Harvard University: Endowments Shouldn't be Ruled by Climate Change - 0 views
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However, research conducted concurrently by several different firms, including the Associated Press, suggests that while Harvard might have benefited well from its oil and gas investments in the past, the marketplace, with the world’s increased focus on climate issues, was changing. “Fossil fuel free” investments now stand to earn more
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In 2005, in response to increasing pressure from student and human rights groups, the university announced it would be divesting from overseas companies like PetroChina and Sinopec that allegedly had ties with Sudan. However, two years later, the student-run paper, Harvard Crimson, reported that the university still maintained investments in those overseas companies.
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What President Faust’s letter didn’t address was the relationship between investment and reputation. Harvard’s reputation is shaped by what it invests in, not just in what it teaches or promotes in research. So is its brand as an impartial, but forward-thinking institution that doesn’t want to be perceived as a “political actor.” But climate change is altering not only how we harness energy but how we view the political landscape. As a poet once told me, “everything is political.” It’s how we deal with that landscape and the choices we make that shapes how others view us.
