Harvard University, whose endowment is the world’s largest, said it plans to wind down fossil-fuel investments from its portfolio, a policy shift that follows decades of protests calling for the Ivy League institution to divest from the industry.
Harvard, whose endowment totals more than $40 billion, will no longer make investments in fossil fuel companies, President Lawrence Bacow said Thursday.
The announcement takes a step further an action that Harvard’s endowment management firm took last June, when it said it no longer had direct investments in companies in those industries.
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