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Shareholder's Discuss Environment

Of the 86 proposals that the CCSR and ACSR both considered, they agreed on 50 and disagreed on four. The remainder involved some sort of split.

Tobacco

In 1990, the University adopted a policy prohibiting stock purchases in companies producing significant amounts of tobacco products. Harvard also sold a number of tobacco industry holdings.

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Harvard recently began taking a more aggressive approach to tobacco issues, according to John D. Donahue, the Raymond Bernon Lecturer in Public Policy at the Kennedy School of Government and an ACSR member last year.

Donahue recalled one tobacco-related issue that was slightly more controversial. One shareholder proposal asked the company H.B. Fuller, which makes glue, to stop selling its product to cigarette companies.

ACSR recommended that Harvard vote in favor of the proposal, but the CCSR followed its precedent and abstained.

"H.B. Fuller, I thought, was kind of pushing the envelope," Donahue said. "Our thinking was that Harvard ought to take a fairly strong anti-tobacco stance, just as in previous years it as adopted an anti-alcohol stance."

Although the CCSR abstained, it "wrote a letter to the company explaining Harvard's policy against tobacco holdings," the report reads.

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