The school faculty just had its third meeting on divestment this semester to debate a new proposal.
Up to now, Harvard has primarily approached the crisis from a mainstream, business-as-usual, incrementalist approach. As the wealthiest university in the world, Harvard should take a much more ambitious ethical lead. Leading in this way requires, as soon as possible, a forceful statement of a plan to divest. We therefore propose:
The Corporation should instruct the Harvard Management Company to withdraw from, and henceforth not pursue, investments in companies that explore for or develop further reserves of fossil fuels, or in companies that provide direct support for such exploration and development; over a reasonable period of time, extend those instructions to advisers of investment vehicles used by Harvard’s endowment, including commingled funds where Harvard is not the sole investor; and ensure that any adviser who may be unwilling or unable to comply is replaced by one who is willing to carry out these instructions.
This proposal is definitely not business-as-usual.
Read more about the debate here.
Post by Marcelino Pantoja