Published on Apr 11, 2014
Momentum is growing in the movement to divest from fossil fuel companies. On Thursday, South African Archbishop Desmond Tutu called for an anti-apartheid-style boycott and disinvestment campaign against the industry for its role in driving climate change. Meanwhile, nearly 100 members of the faculty at Harvard University released an open letter calling on the Ivy League school to sell off its interests in oil, gas and coal companies. “If the Corporation regards divestment as ‘political,’ then its continued investment is a similarly political act, one that finances present corporate activities and calculates profit from them,” wrote the professors. “Slavery was once an investment issue, as were apartheid and the harm caused by smoking.” Harvard has the largest university endowment in the country, worth more than $32 billion.