Skip to main content

Harvard to Divest its Endowment from Fossil Fuels

by Sangam Paudel, Sep 29
2 minutes read

Harvard president Lawrence Bacow announced (on 9th September 2021) that the university would divest from its holdings in fossil fuels. This decision follows years of campus campaigns, spearheaded by Fossil Fuel Divest Harvard, which has included protests, legal complaints, and even the storming of the Harvard-Yale football game in 2019. 2 weeks later, Boston University announced its decision to end endowment investments in fossil fuels. Divest BU had been calling for divestments since 2013.

Harvard University banner

So what?

Harvard’s and Boston University’s divestment from fossil fuels is part of a bigger movement of students calling on their universities to withdraw their investments from the fossil fuel industry, a sector that actively contributes to the climate crisis.
Harvard Management Company (HMC)’s investments in the sector make up less than 2 percent of Harvard’s more than $40 billion endowments, and the endowment’s exposure to the industry had decreased by more than 80 % since 2008. Thus, the divestment decision can be viewed both as the result of a successful student-led activism movement and as a financial decision made in line with global financial trends.
Considering the large endowments of many educational institutions and the presence of similar student-led initiatives in various institutions, divestment from fossil fuels is likely to continue in the near future.

Sources

Details

by Sangam Paudel Spotted 17 signals

Have you spotted a signal of change?

Register to receive the latest from the Futures Centre.
Sign up

  • 0
  • Share

Join discussion

Related signals

Our use of cookies

We use necessary cookies to make our site work. We'd also like to set optional analytics cookies to help us improve it. We won't set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences.

For more detailed information about the cookies we use, see our Cookies page.

Necessary cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytics cookies

We'd like to set Google Analytics cookies to help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these cookies work, please see our 'Cookies page'.

>