EN 
PT_BR 
After years of public pressure, Harvard University, located in the city of Cambridge, Massachusetts (USA), announced that it will no longer invest in fossil fuels. This is what the university president, Lawrence Bacow, said.
With the move, the institution will use its US$42 billion endowment to support the green economy, joining a growing wave of investors moving away from polluting industries.
“We must act now as citizens, as academics and as an institution to confront this crisis on all the fronts we have at our disposal,” said Bacow, in a letter published on university website.
“Given the need to decarbonize the economy and our responsibility as fiduciaries to make long-term investment decisions that support our teaching and research mission, we do not believe that such contributions are prudent,” he highlighted.
The executive also emphasized that Harvard has already ended all direct contributions to companies that explore fossil fuels and will not enter this sector again.
However, he explained that they still have investments in some action funds with interests in this industry, but which constitute less than 2% of capital, “a number that continues to decrease”, he concluded.
Image: reproduction
