Harvard Rejects Fossil-Fuel Divestment

Harvard University President Drew Faust.
National Journal
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Alex Brown
Oct. 4, 2013, 8:46 a.m.

Harvard University will not engage in fossil-fuel divestment, President Drew Faust announced Thursday. While acknowledging the threat of climate change, Faust said removing fossil-fuel ties from its endowment would not help the university’s financial strength or academic mission.

Faust also warned that fossil-fuel divestment “would appear to position the university as a political actor rather than an academic institution.” In addition, she said, “barring investments in a major, integral sector of the global economy would … come at a substantial economic cost.”

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