APRIL 13, 2015: The Guardian, a news organization based in the U.K., recently ran a story about the campaign urging Harvard University to divest its endowment from fossil fuels.
Emma Howard writes:
“…The activists have been heartened by an analysis from the investment firm Trillium Asset Management that says the university’s fossil fuel holdings have cost the endowment millions over the course of the divestment campaign. The $21m estimated loss is based on the performance of fossil fuel holdings in the $1bn of its $36bn (£23bn) portfolio that Harvard makes public.
Matthew Patsky, Trillium’s CEO, said: ‘This stance is Harvard’s loss – literally. Three years is, of course, a relatively short time frame for evaluating an investment portfolio. Nevertheless, Harvard’s continued investment in fossil fuels during that time has diminished the financial strength of the endowment.’”
You can read the entire article here.