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Harvard Endowment’s Fossil-Fuel Investments Drop to 2% of Assets

Feb. 25, 2021, 8:00 PM

Harvard University, the richest U.S. college, saw its fossil-fuel investments decline to less than 2% in fiscal 2020.

Harvard’s endowment had about 11% of its holdings in such assets in fiscal 2008, the Ivy League school said Thursday in a climate report, its first-ever disclosure of this information. The holdings include direct commodity investments and indirect stakes in companies that explore or develop fossil-fuel reserves. Harvard declined to provide details about which investments were reduced.

The endowment, run by Harvard Management Co., mostly relies on outside fund managers. It had $41.9 billion in assets as of June, the latest ...