Bok Rejects Anti-Nuke Stand, Opposes Initiation of Proxies
Harvard will not issue a statement or initiate shareholder resolutions on its nuclear-related investments, President Bok said yesterday. Instead, Bok said, the Corporation's Advisory Committee on Shareholder Responsibility (ACSR) would review the resolutions of other shareholders if they arise in the upcoming proxy season.
Bok met yesterday afternoon with two members of the Harvard-Radcliffe Anti-Nuclear Alliance to discuss Harvard's position toward its $180 million investments in corporations that produce nuclear power and weapons.
The Corporation will probably not ask the ACSR to review the safety of nuclear power and the morality of nuclear-related investments because such a review would demand an inordinate amount of time, Bok said.
"It took the Kemeny Commission months of testimonies, and reviews to pass judgement on nuclear power," Bok said, adding "the ACSR should not try and get into this kind of decision-making."
John Lindsay '82, a member of the alliance, said yesterday he believes Harvard should initiate shareholder resolutions demanding that corporations end their support of nuclear power because "nuclear power is unjustifiable for economic, environmental, and social reasons."
Harvard holds stocks in 18 companies that process nuclear fuel, construct or maintain nuclear utilities, or operate some of the country's 70 licensed nuclear power plants. The largest investments are in five of the nation's major oil firms.
Lindsay and Arthur Gruen '82, another member of the alliance, requested the meeting last week. Although the alliance has not taken a position on the matter, Lindsay said he will circulate an open letter later this week urging the University to drop its nuclear-related investments.