Harvard To Divest $42 Billion Endowment From Fossil Fuels After Years Of Student Protest
HuffPost
“This announcement is a massive victory for activists and for the planet,” Divest Harvard, a student- and alumni-led group, wrote.
Harvard University said Thursday it would stop investing in fossil fuels following nearly a decade of activism from students and faculty who said pulling the school’s $42 billion endowment was a key step in the fight against climate change. Harvard President Larry Bacow said in a letter that the school no longer had any direct investment in companies that explore for or develop fossil fuel reserves and planned to make no such investments in the future. Any indirect investments through private equity funds will be allowed to lapse. He stopped short of using the word “divestment” — the term environmentalist have touted for institutions that pull funds from carbon-emitting industries — but the shift amounted to a dramatic change in tack after years of school leadership refusing to even consider doing so.
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