Vice President for Alumni Affairs and Development Tamara E. Rogers ’74 defended the compensation of top managers of the Harvard Management Company in a letter sent late last week to a group of alumni that had previously criticized the University's investment arm.
For years, Gerald Chan, an alumnus of the School of Public Health who will unveil a $350 million donation to the school Monday afternoon, has used his financial resources to support research in the sciences.
At Harvard Management Company, the stakes are high, especially during Harvard’s record-seeking capital campaign. But in contrast to the record yields HMC enjoyed from 1990 until the financial crisis, the company’s recent returns—which influence Harvard’s financial strength more than any donor can—now straddle the national average.
Although the University has signed onto the United Nations-supported Principles for Responsible Investment, sustainability and investment experts cautioned that the voluntary nature of the principles are closer to a statement of values than policy.
More than 100 faculty members from across the University signed an open letter on Thursday urging University President Drew G. Faust and members of the Harvard Corporation, the University’s highest governing body, to divest the University's endowment from fossil fuel companies.
The three-fold endeavor will launch a research-focused Climate Change Solutions Fund, increase sustainability measures on campus, and affirm the endowment’s commitment to environmentally sustainable and socially conscious investing.