Harvard Drops Fossil Fuel Investments From Endowment

Largest US higher-education learning institution cuts investments in fossil fuels.

(Image Courtesy Of Harvard University)

Harvard University, whose US$42 billion endowment is the largest of any US higher-learning institution, has cut its investments in fossil fuels.

In a message to the Harvard community, President Lawrence Bacow said that endowment managers don’t intend to make any more direct investments in companies that explore or develop fossil fuels and that its legacy investments in private equity funds with fossil fuel holdings “are in runoff mode and will end as these partnerships are liquidated.”

He noted that the university has not had direct investments in fossil fuels since June and that its indirect investments make up less than 2% of the total endowment.

“Given the need to decarbonize the economy and our responsibility as fiduciaries to make long-term investment decisions that support our teaching and research mission, we do not believe such investments are prudent,” Bacow wrote.

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