By Brendan Pringle
Despite pressure from environmental extremists on the Left,
Harvard University says it will not divest from fossil fuel
companies. A sustainability organization on campus has been pushing
university leadership to stop investing in fossil fuel companies as
part of a larger, national movement aimed against the fossil fuel
Drew Faust, president of Harvard University, released this
official statement: "While I share their belief in the
importance of addressing climate change, I do not believe, nor do
my colleagues on the Corporation, that university divestment from
the fossil fuel industry is warranted or wise."
Like so many other institutions, Harvard's endowment depends on
its investments in fossil fuel companies and the university isn't
planning to drop this key component of its portfolio anytime soon.
The world of academia constantly demonizes the use of fossil fuels
under the guise of "sustainability", and preaches that the world
should turn to less practical forms of energy like wind and solar.
But when it comes to money, universities would much rather be seen
as hypocritical than lose out on profitable investments.
Read the full article here: http://thedartmouth.com/2013/10/09/news/divestment
Brendan Pringle is a Development Officer at Young America's Foundation's Reagan Ranch Center