Harvard University will divest itself from fossil fuels

BOSTON (AP) — Harvard University will divest itself from holdings in fossil fuels. President Lawrence Bacow said Thursday that the university has legacy investments in a number of private equity funds with holdings in the fossil fuel industry and those indirect investments constitute less than 2% of the endowment. The school hasn’t made any new commitments to these limited partnerships since 2019 and has no intention to do so in the future. Bacow says the legacy investments are in “runoff mode” and will end as these partnerships are liquidated. The school already been reducing its exposure to fossil fuel holdings.