As Harvard continues to establish itself as a leader in campus sustainability, it must be ready to engage in sustainable practices at all levels—especially with regards to its investment activities.
The effects of climate change are becoming increasingly clear. In this last year alone our country experienced record-breaking heat, droughts, and hurricanes, which impacted thousands of people and cost our country billions of dollars. Hurricane Sandy alone is estimated to have caused $50bn in damages.
Experts agree that global warming caused by humans burning fossil fuels will continue to accelerate and intensify these tragic climate disasters.
The scientific consensus is clear and overwhelming; we cannot safely burn even half of global fossil-fuel reserves without dangerously warming the planet for several thousand years.
As public pressure to confront climate change builds, we call on Harvard to immediately freeze any new investment in fossil-fuel companies, and to divest within five years from direct ownership and from any commingled funds that include fossil-fuel public equities and corporate bonds.
We believe such action on behalf of Harvard will not only be a sound decision for our institution’s financial portfolio, but also for the wellbeing of its current and future graduating classes, who deserve the opportunity to graduate with a future not defined by climate chaos.
Check out our website: www.divestharvard.com