At the start of a revitalized “Heat Week” campaign, students, faculty, and alumni gathered to call on University President Lawrence S. Bacow and Harvard administrators to divest their endowment holdings in the fossil fuel industry at a press conference at the Charles Hotel Monday.
Forty-five percent of Harvard’s annual revenue comes from donors — either as endowment returns or direct gifts — University Chief Financial Officer and Vice President for Finance Thomas J. Hollister said in an interview Wednesday.
Harvard has reduced its debt load by roughly $1 billion and increased its reserves in preparation for a potential future recession, University Chief Financial Officer and Vice President for Finance Thomas J. Hollister said in an interview Wednesday.
New Harvard Management Company Website Removes Divestment Information, Defends Natural Resources Holdings
Harvard Management Company updated its website within the last month to remove any mention of past instances of divestment and to include references to its protocols on its investment in land and agriculture.
University President Lawrence S. Bacow updated faculty on his recent meetings with Congressional leaders about the endowment tax and protections for University affiliates whose immigration status is currently in peril at the Faculty of Arts and Sciences’s monthly meeting Tuesday.
Among some of the corporations that have expanded into the region in recent years is an unlikely investor — the Harvard Management Company. HMC, the University’s investment arm, oversees Harvard’s nearly $40 billion endowment.
Hedge-fund manager David E. Goel ’93 and Stacey L. Goel donated $100 million to Harvard for an arts research and performance space in Allston, the University announced Thursday.
University President Lawrence S. Bacow discussed the challenges higher education institutions face and defended Harvard’s leading role among colleges and universities at an American Enterprise Institute and Brookings Institution panel Thursday.
University President Lawrence S. Bacow returned to Washington, D.C., for the second time during his presidency to lobby federal lawmakers and a White House staffer to increase research funding, bolster immigration protections, and avoid another government shutdown on Thursday.
Harvard voted on shareholder proposals concerning digital media content and corporate tax policy for the first time in 2018, among a series of other issues that have previously arisen, according to the University’s annual shareholder responsibility report published Tuesday.
2018 was a momentous year for Harvard. As the University welcomed its 29th president Lawrence S. Bacow, it struggled with numerous challenges including lawsuits alleging discrimination, accusations of sexual harassment levied at prominent affiliates, and an "unprecedented" endowment tax. As the year comes to an end, The Crimson examines the ten stories that most defined 2018.
In an interview last week, President Bacow broke from his predecessor to offer up a new line of argument for sticking to the status quo: not only is divesting to compel change improper, he said, but it is also impractical and ineffective.
Several Harvard faculty members will once again urge University administrators to divest the school’s holdings in the fossil fuel industry, according to an update on their website posted this month.
Continuing a years-long effort, an online petition calling on Harvard to divest its holdings in the fossil fuel industry had garnered 150 signatures as of Tuesday evening.