Fossil Fuel Divest-Invest Movement Leaders to Announce New Phase of Divest-Invest Campaigns in Response to Harvard’s Historic Announcement

CAMBRIDGE, MA — Following nearly a decade of pressure from student activists, alumni, and faculty, Harvard, the world’s wealthiest university, announced that it has nearly entirely divested its $42 billion endowment from fossil fuels and will bar any future investments in coal, oil and gas. The institution also announced its commitment to investing in a clean energy transition. 

On Wednesday, September 15 at 11am ET, activists from student divest-invest campaigns, including Divest Harvard and Divest Princeton, and leaders of the global fossil fuel divest-invest movement are hosting a media conference of movement leaders and activists to discuss the significance of the win and what it means for campaigns targeting universities, cities, pensions, and other financial institutions, as well as the financial impact of these announcements on the fossil fuel sector.

Who:

• Bill McKibben, 350.org co-founder and divestment movement leader
• Ilana Cohen, Fossil Fuel Divest Harvard organizer
• Hannah Reynolds, Divest Princeton Coordinator
• Maine State Senator Chloe Maxmin, Divest Harvard co-founder
• Tomás Insua, Harvard alum, Executive Director, Laudato Si’ Movement
• Tom Sanzillo, Institute for Energy Economics and Financial Analysis, former New York State Deputy Comptroller

What: Zoom press conference celebrating the divestment movement win

Where: Register at https://bit.ly/DivestedHarvard

When: 11am ET, Wednesday, September 15, 2021

Why: Harvard’s divestment announcement marks a historic win for the fossil fuel divest-invest movement. The victory comes after nearly a decade of campaigning on campus and around the world by students, professors, alumni, and activists 

With its over $40 billion endowment, Harvard is the wealthiest university on the planet, and the largest to divest from fossil fuels. Driven by movement pressure, this iconic announcement signifies a tipping point that will cascade throughout mainstream endowments and financial institutions globally. It builds momentum for a series of major announcements slated for the end of October on the eve of COP 26 climate summit.

The fossil fuel divestment movement, which started on just a handful of college campuses in 2012, has now spread across the globe. Over 1,300 institutions representing more than $14.5 trillion in assets have made some form of divestment commitment. Notable commitments include New York City and State pension funds, the city of London, the country fund of Ireland, the Norwegian Sovereign Wealth Fund, the State of Maine, the World Council of Churches, the British Medical Association, the University of California, Oxford University, Brown University, Columbia University, and many more.