Harvard to let the United Nations dictate how it spends college endowment money
- Harvard is taking a cue from the UN when it comes to their endowment money.
- University president justifies decision over concern for climate change.
- Harvard is the first university to adhere to these guidelines.
Harvard University has committed to listening to the United Nations (UN) when deciding how to spend the college’s endowment money.
“Harvard’s endowment will become a signatory to the United Nations-supported Principles for Responsible Investment (PRI),” Harvard President Drew G. Faust announced in an email on Monday.
“Harvard Management Company will manage Harvard’s endowment consistent with these principles,” she continued.
PRI instructs supporters to focus on environmental and social impacts, according to a description of the principles on a UN website.
To adhere to the policy, Harvard will launch a Climate Change Solutions Fund and expand its efforts in the areas of sustainability and climate change, saying that people must “devote” themselves to these issues.
“Worldwide scientific consensus has clearly established that climate change poses a serious threat to our future,” Faust’s email stated.
Harvard is the first college to commit itself to these guidelines.
Harvard did not respond to requests for comment from Campus Reform in time for publication.
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