Harvard Management Co
Two divestment activist groups organized on Harvard’s campus last week, calling for ends to the University's farmland holdings and companies connected to the U.S. prison system.
Amid Harvard’s dismissal of calls for fossil fuel divestment, Harvard Management Company — the group that oversees the University’s $39.2 billion endowment — has been one of the lead investors in a methane emissions reduction working group started in 2017.
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.
Harvard Management Company announced Sanjeev Daga will take the helm over the University’s $39.2 billion endowment as the firm’s chief operating officer.
The group wants to sever Harvard's "financial ties to the prison-industrial complex by advocating for... total divestment from all corporations whose existence depends on the capture, caging, and control of human beings."
After Harvard's endowment saw the second-worst rate of return on investment in the Ivy League, HMC CEO N.P. “Narv” Narvekar said in the latest annual financial report that he is "not pleased" with the past year's returns.
The returns, bringing the endowment's total value to $39.2 billion, mark an improvement from last year’s return of 8.1 percent and a serious turn-around from the loss of $2 billion in fiscal year 2016.
Harvard Management Company has spent more than $1 billion to buy more than 800,000 hectares of farmland, a new report estimates.
A University investment in Brazilian farmland could face a lawsuit as prosecutors review allegations that a Harvard-linked company does not rightfully own the land.
Harvard owns 7,500 acres of vineyards in Cuyama Valley, California. Water scarcity threatens the future of agriculture in the region.