Harvard setting an example

Harvard University President Larry Bacow on Thursday announced it will pull its $42 billion investment from fossil fuel industries, making it one of the wealthiest and most prestigious institutions to do so.

In a letter, Bacow said the university has already withdrawn all direct investments in fossil fuel companies and will also foreswear any future investments, as well as allowing indirect investments through private equity to expire.

Bacow also said Harvard has set a target of net-zero greenhouse gas emissions by July of next year.

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The announcement follows a concerted campaign by student activists, who have called for divestment through protests and sit-ins as well as a legal complaint earlier this year.

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The Biden administration has made net-zero greenhouse gas emissions a major priority, pledging to reach the target by 2050 and cut U.S. emissions in half by 2030.

  The Hill