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But the President made it clear he has no intention of taking the more complete step of divesting from his businesses, which government ethics lawyers argue is the only way to avoid conflicts.
"Given the urgency of the climate challenge, we're seeing excruciatingly slow progress on ethical investment," says Hazan. "It's high time that vice-chancellors put their money where their mouth is on climate change and took the symbolic and financially prudent step of divesting their holdings in fossil fuel companies before the carbon bubble bursts".
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Conducting thoughtfully-constructed survey analysis of divesting firms, divested units, acquiring firms, and other stakeholders can also help to fill the data gap, and is an approach that has not yet been fully leveraged in the divestiture literature.
Third, and finally, it is also possible to gather proprietary qualitative data on the operations of divesting firms and/or divested business units by gaining privileged access to those entities (Corley and Gioia 2004; Tripsas 2009; Moschieri 2011).
Recently, several major global pharmaceutical companies have either scaled down their vaccine divisions or are in the process of divesting the vaccine business.
The firm has been taking steps to divest itself of noncore businesses, though it has taken hits in the process.
The CEO who ranks No. 318 on the Forbes 400 list will take steps to divest himself of voting control, the company said.
The University of Dayton recently announced it will begin taking steps to divest from major coal and fossil fuel companies.
Rahm Emanuel, the mayor of Chicago and President Obama's former chief of staff, has said he would ask the city's pension funds to look into whether they have investments in companies that manufacture or sell assault weapons as the first step toward divesting from them, The Chicago Tribune reported.
In both cases, stigmatizing the corporations that encouraged and profited from a devastating course of action by divesting from their stock was an essential step--not a be-all-and-end-all, but immensely valuable.
It's a combination of adding and divesting.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com