Harvard University, the world’s richest college, is planning to hire a vice president to advise its endowment managers on environmental, social and governance issues amid student protests about sustainability.
An opening for Vice President - Sustainable Investing, is posted on the website of Harvard Management Co., which oversees the college’s fund of $30.4 billion, according to the National Association of College and University Business Officers. The job involves analyzing how environmental and sustainability issues are currently treated in Harvard’s portfolio and suggesting appropriate “enhancements,” according to the posting.
Harvard students have held demonstrations calling for the university to pull its money out of oil companies and back development of renewable sources, such as solar power. Jane Mendillo, president and chief executive officer of Harvard Management, said last year that all of Harvard’s investments, such as timberland, are made with sustainability in mind.
“Given the growing conversation around sustainability and related issues on campus and across the financial sector, we wanted to develop a more integrated approach to these issues at HMC,” she said in an e-mailed statement about the job. “We are long-term investors and that means we are concerned with sustainability and stewardship. This new position will strengthen this longstanding focus at HMC.”
Harvard is a nonprofit institution and is only required to disclose publicly traded investments.