UC Board of Regents votes in favor of Sudan divestment

by reposted

Wed, Mar 22, 2006 9:08PM

The University of California's Board of Regents voted to divest from companies tied to the government of Sudan on Thursday, making the UC system the first public university to join Yale and several other private institutions in excluding such companies from its portfolio -- if state lawmakers approve.

Before the 18-month divestment process begins, the California state legislature must vote to back the board's decision. But Board of Regents Chairman Gerald Parsky said in a press release that the university's move is an important symbolic step.

"The University of California has taken a principled stand against the tragedy in Sudan by severing its financial connections from those nine companies who aid the genocide and by lending its voice to those calling for peace in the region," Parsky said.

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http://www.yaledailynews.com/article.asp?AID=32204

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