- Divestment moves occur as part of a broader trend among some institutional investors toward the environmental, social, and governance movement, also known as ESG, which has suffered over the past year as the energy sector witnesses outsized profitability.
- “For too long, Harvard has stood on the wrong side of history, lending legitimacy to the companies driving global warming and environmental injustice,” the group said.
- Harvard Management Company, which manages the elite university’s endowment, admitted last month that a recent $2.3 billion loss on its $51 billion endowment was attributable to fossil fuel divestment efforts, though the organization remains “proud to be deeply engaged in the issue of sustainability.”
