Major Divestments
Sudan / Darfur
On Feb. 25, 2006, the Brown Corporation, on a recommendation from the ACCRIP, took a final vote to divest its investments from companies whose business activities can be shown to be supporting and facilitating the Sudanese government in its continuing sponsorship of genocidal actions and human rights violations in Darfur. Stating the following:
It is recommended:
That the Corporation exclude from Brown University’s direct investments, and require the University’s separate account investment managers to exclude from their direct investments, the following companies whose business activities can be shown to be supporting and facilitating the Sudanese government in its continuing sponsorship of genocidal actions and human rights violations in Darfur: Lundin Petroleum, Nam Fatt, Oil & Natural Gas Corporation, PECD, Schlumberger, Alstom, Harbin Power Equipment Co., and Bharat Heavy Electricals.
This list has been further amended, and currently includes the following companies: Alcatel, Alstom, Bharat Heavy Electricals, Electricity Generating Corporation (EGCO), Harbin Power Equipment, Indian Oil Corporation (IOCL), Lundin Petroleum, Mobile Telecommunications Co. (Sudatel), Muhibbah Engineering (M) Berhad, Nam Fatt, Oil & Natural Gas Corporation, PECD, PetroChina, Reliance Industries, Schlumberger, Sinopec.
Also from the Brown Daily Herald: Divestment From Sudan, 1 Year Later
Tobacco
At its May 7, 2003 meeting, the ACCRIP unanimously adopted the following recommendation:
We recommend that the Brown Corporation exclude from Brown's direct investments, and require Brown's separate account investment managers to exclude from their direct investments, those companies that manufacture tobacco products and that the Investment Office share with all investment managers the University's desire to adhere to this investment philosophy. To give investment managers guidance, we recommend they consult with the company list compiled by Investor Responsibility Research Center.
(Read the complete ACCRIP recommendation - pdf)
On September 12th of 2003, the Brown Corporation voted in agreement with the ACCRIP recommendation to divest the University's investments from companies dealing in tobacco.