Harvard: No, We Won't Divest From FF Stocks, But Look! We're Signing A UN Document On Investing!

[hatrack]

Six months after announcing that Harvard University would not divest its endowment’s holdings from the fossil fuel industry, its president, Drew Faust, unveiled several new initiatives Monday to strengthen the university’s commitment to environmental sustainability and renewable energy.

Harvard says its endowment will be the first of a US university to sign on to a United Nations-supported organization, Principles for Responsible Investment. The principles do not require Harvard to sell specific funds, but rather provide the university’s fund managers with a method for considering environmental and social factors, from water scarcity to human rights.

“Harvard has a vital leadership role to play in this work,” Faust wrote in a letter to the Harvard community. “As a university, it has a special obligation and accountability to the future, to the long view needed to anticipate and alter the trajectory and impact of climate change.”

Faust is also asking alumni and other donors to raise $20 million for a fund to spur research and innovation addressing climate change. She said Harvard will offer $1 million in grants, to be awarded this fall, to launch a Climate Change Solutions Fund.

EDIT

http://www.bostonglobe.com/metro/2014/04/07/after-refusing-divest-from-fossil-fuels-harvard-takes-new-steps-promote-environment/k0Y8ig27Uq1cdRtF85qnzO/story.html

[Nihil]

1. Yeah, "We'll sign anything that looks good but aren't going to DO things"

> The principles do not require Harvard to sell specific funds,

"Drew Faust" - what an appropriate name for someone who has sold his "soul" to the "Devil" ...