Harvard University has become the first American university to sign on to a United Nations-backed code of responsible investment – in a move to assuage a carbon divestment campaign.
Six months after explicitly rejecting calls to divest from fossil fuels, managers of Harvard’s $33bn endowment will now be guided by a set of investment principles taking into account environmental and social factors such as water and human rights, the university announced on Monday.
The new guidelines, set by the Principles of Responsible Investment organisation, do not commit Harvard to selling existing holdings in fossil fuels.
But campaigners still claimed the step as a victory for a divestment movement that has now spread to more than 500 university campuses and other institutions across America and Europe.
Nine colleges have so far divested fossil fuels, the campaign said.
For more on this story, visit: Carbon divestment activists claim victory as Harvard adopts green code | Environment | theguardian.com.
With our leaders repeatedly failing to take action on climate, divestment from fossil-fuel companies is one of the few effective strategies remaining. Climate change is an urgent moral crisis, and our universities and institutions must take a stand.
For more on this story, visit: Should Universities Divest From Fossil Fuel Companies? by : Yale Environment 360.