Harvard University will divest itself from fossil fuels

[mountaineer]

Yay, virtue signaling.

Harvard University will divest itself from fossil fuels
Associated Press
Sept. 10, 2021

Harvard University will divest itself from holdings in fossil fuels, President Lawrence Bacow said Thursday.

Harvard Management Company, which oversees the university’s nearly $42 billion endowment, has already been reducing its exposure to fossil fuels and has no direct investments in companies that explore for or develop further reserves of fossil fuels, Bacow said in a message posted on the university’s website.

The university has legacy investments in a number of private equity funds with holdings in the fossil fuel industry. Those indirect investments constitute less than 2% of the endowment, according to Bacow. ...

“Given the need to decarbonize the economy and our responsibility as fiduciaries to make long-term investment decisions that support our teaching and research mission, we do not believe such investments are prudent," he wrote.

The decision follows years of protests from students who have pressed Harvard to divest from fossil fuel companies. ...

Rest of story

[Smokin Joe]

Great! I can't think of a better place for shivering students.

[catfish1957]

Yay, virtue signaling.Rest of story

Good..... Harvard can go F itself, and invest in some dot coms, and blow it in the next big correction.   Then they can spend that f'n foundation and endowment money till it dries up.

Oil, Gas, Petrochemicals?  3-8% divys on a product that despite envirowhacko misguided thinking, will be around forever?  I'll keep the checks rolling in.

[EdinVA]

Why does a university have $42 billion in the bank?

[catfish1957]

Why does a university have $42 billion in the bank?

Money Laundering comes in many faces.....

[Kamaji]

Why does a university have $42 billion in the bank?

Courtesy of taxpayers, who continue to abide by the blatantly false lie that Harvard is a charitable nonprofit that should be exempt from tax. 

Given the benefits of compounding, and the 35% rate of tax Harvard would have been subject to but for that lie, most of that money effectively comes from us, the average US taxpayer. 

[Fishrrman]

Gets pretty chilly up in Cambridge in the winter.

What are they heating their buildings with?

[mountaineer]

Gets pretty chilly up in Cambridge in the winter.

What are they heating their buildings with?

They dry the dung that spews forth from the professors' mouths, and set it afire.

[Smokin Joe]

Gets pretty chilly up in Cambridge in the winter.

What are they heating their buildings with?

Hard to say...With all the more recent electronic format material out there, it is unfortunate that the books most likely to be burned (for heat) are the ones they should actually read.

[Kamaji]

Gets pretty chilly up in Cambridge in the winter.

What are they heating their buildings with?

Electricity, of course, which we all know comes free of charge from the magical mystical 'lectricity portal built into the walls - y'know, that little three-holed beauty:

[Hoodat]

Why does a university have $42 billion in the bank?

The interest alone off of that is more than enough to pay the full tuition of every student enrolled.