University 'Not Considering' Divestment | News | The Harvard Crimson
A week after about 2,600 undergraduates voted in support of a referendum calling for Harvard to divest its $30.7 billion endowment from the fossil fuel industry, a Harvard spokesperson said on Wednesday that the University has no plans to adjust its investment portfolio in response to the student plebiscite.
“Harvard is not considering divesting from companies related to fossil fuels,” Harvard Director of News and Media Relations Kevin Galvin wrote in an email to The Crimson.
And at an open forum hosted by the UC and Harvard Graduate Council in October, University President Drew G. Faust reiterated that the Harvard Management Company, which oversees University investments, is principally committed to generating funds to support education and research.
“That is its sustaining goal, and it devotes itself to that, not to using the investments to advance particular agendas of one sort or another,” Faust said.
“[President Faust is] going to have to change her mind, because we’re not changing ours,” Welton said. “Climate change is a matter of life or death for millions and millions of people. We’re going to do whatever we can to change her mind over the weekend or the next couple of years.”