Harvard's $42 Billion Endowment Says It Will Stop Investing In Fossil Fuels | WHAT REALLY HAPPENED

Harvard's $42 Billion Endowment Says It Will Stop Investing In Fossil Fuels

It isn't just ETFs that are rebranding as ESG - now, Harvard's is foregoing potential hefty dividends and gains in the oil and gas industry to be able to slap the ESG title on the college's $42 billion endowment, which said this week it would stop investing in fossil fuels.

The school said it'll use its endowment to "support the green economy", according to Yahoo and Bloomberg.

We guess it's a good thing that generating free cash flow isn't important anymore.

The fund's manager, Harvard Management Co., "does not intend to make such investments in the future” and currently has no oil and gas exposure, according to President Larry Bacow.

The fund is making the change after what Bloomberg calls "years of sustained activism from students calling for fossil-fuel divestment".

Wait until the students take their first ECON 101 course and learn about discounting cash flows. Perhaps their minds will change; or the cafeteria may have to forego their favorite organic, gluten-free grass fed lunches due to budget constraints.

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