Harvard University to stop investing in fossil fuels after years of public pressure

Lawrence Bako, president of Harvard University, said on Thursday that the university had stopped using the word “crooked” but was working to stop investing in oil companies.

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Madi Meyer / Getty Images

Lawrence Bako, president of Harvard University, said on Thursday that the university had stopped using the word “crooked” but was working to stop investing in oil companies.

Madi Meyer / Getty Images

Harvard University says it will complete its investment in fossil fuels – a move that has prompted activists – both on and off the campus – to operate the university for years.

In a message to the Harvard community, President Lawrence Bako said: Drainage conditions and when these partnerships are dissolved.

He noted that the university has not had a direct investment in fossil fuels since June and that the indirect investments are less than 2% of the total contribution. Harvard boasts the country’s largest academic contribution, having recently reached $ 41.9 billion.

Bako wrote, “Given the need to cut back on the economy and our responsibility to make long-term investment decisions that support our teaching, learning and research mission, we do not believe such investments are sensible. He described climate change as “the greatest threat to humankind,” and Harvard outlined other ways in which he could do so.

Harvard Crimson Bako – who has been president since 2018 – and his predecessors – have publicly opposed the move and said administrators are focused on fighting climate change, research and campus sustainability efforts.

Activists, students and graduates have been urging the university to sell its fossil fuels in recent years as those voices have grown exponentially.

Proponents of the change have filed legal complaints, stormed the Harvard-Yale football stadium in 2019, staged campus protests, and won seats on school boards. Crimson.

Activists call it victory, and the starting point

Proponents of her case have been working to make the actual transcript of this statement available online.

“I can’t overestimate the power of this victory,” he tweeted Environmentalist Bill McKibben. He speaks of the world around him.

A.D. In 2013, he praised the activists for forcing them to become rich by promising to hijack the “richest school in the world.”

Proponents of her case have been working to make the actual transcript of this statement available online.

But the celebration was not without reservation.

The group’s statement criticized Bako for using the word “transit” and promised that the university would live up to its promise, be zero-zero in greenhouse gas emissions by 2050, and “stop lending.” Dignity and Power ”for the fossil fuel industry in other ways.

This announcement is a great victory for activists and the planet. FossIl Fuel Dest HarWard Revealed on Twitter. Of course, a lot of work remains to be done – and our work for Harvard will be here to ensure that it is the beginning of a more accurate and stable future.

Read here about the widespread pressure on fossil fuels in colleges and universities across the country.

This story first appeared Morning Edition Live blog.

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