Harvard University faculty voted to call on the managers of its endowment to divest from fossil fuel companies, said Jonathan Swain, spokesman for the Cambridge, Mass., university.
The motion, approved Tuesday by a vote of 179-20 from the university faculty, is non-binding and has no current impact on the university’s $40.9 billion endowment.
Harvard President Lawrence Bacow will share the motion with Harvard Corp., the university’s governing body, for consideration. It will then be the corporation’s decision whether to consider it for any change in direction regarding the endowment. It is a separate entity from Harvard Management Co., the Boston-based company that manages the endowment.
Harvard has an aggressive plan for the operations and maintenance of its campus to be fossil fuel neutral by 2026 and fossil fuel free by 2050.