Investing

Harvard’s $42 Billion Fund to Stop Investing in Fossil Fuels

Kevin Crowley

and

Stephen Stapczynski

September 9, 2021, 8:49 PM EDT Updated on September 10, 2021, 7:41 AM EDT

Announcement follows years of pressure from students
Harvard vowed last year to create a 2050 net zero plan

Wall Street's ESG Lending Practices Coming Under Fire

Harvard University will stop investing in fossil fuels and instead use its giant $42 billion endowment to support the green economy, joining a growing wave of investors moving away from pollutive industries.

Harvard Management Co., which runs the endowment, has no investments in companies that explore for or develop fossil fuels and “does not intend to make such investments in the future,” President Larry Bacow said Thursday in a letter posted on the university’s website.