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  • Harvard Refuses to Divest from Fossil Fuel Companies

    10/10/2013 2:58:25 PM Posted by Brendan Pringle

    Divestment HarvardBy 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 industry.

    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

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