Columbia Investments

NEW YORK, N.Y.--Investment officials from Columbia University are demanding explanations from firms in the university portfolio that have not endorsed or have not fully complied with the Sullivan Principles, a code of conduct for firms operating in South Africa.

Under a policy adopted last March, Columbia will divest from firms that do not comply with the Sullivan Principles or an "equivalent program."

University President William McGill said last week the trustees may divest certain holdings, depending on the responses from the corporations. However, Anthony Knerr, vice president for finance and treasurer, said he doubted there will be any divestiture.