Harvard University Latest To Divest from Fossil Fuels

Reuters reports: In a letter posted on Harvard’s website, President Lawrence Bacow said the school’s endowment had no direct investments in fossil fuel exploration or development companies as of June and will not make such investments in the future, “given the need to decarbonize the economy.”

The point of divestiture, of course, is to drive down the price of Big Oil’s stocks, and increase their cost of capital.  This makes fossil fuels more expensive, and less competitive against renewable energy sources.

Great to see Harvard going in this direction.  Their motto, “Veritas” (Truth), is now that much closer to being actualized, insofar as the fossil fuel industry is built entirely on the lie that pumping carbon into the atmosphere is a sustainable course for our civilization.