As MLK once said: “In this unfolding conundrum of life and history, there is such a thing as being too late.”
On April 7, Harvard President Drew Faust released a statement on climate change and Harvard’s investment strategy. This news came after months of pressure from students, faculty and alumni who were disturbed by her initial rejection of demands for fossil fuel divestment. The demands were first raised in October 2013 by a new student group, Divest Harvard, which was part of a growing national campaign. Faust’s announcement—which introduces Harvard’s creation of a Climate Change Solutions Fund and commitment to the UN Principles for Responsible Investment and Carbon Disclosure Project—finally acknowledges Harvard’s responsibility for its investments. However, as members of Divest Harvard, we are deeply disappointed with the university’s continued failure to address the urgency of climate change.
A recent report from the Intergovernmental Panel on Climate Change lays out the sobering reality of the climate crisis. By 2100, much of our planet will be uninhabitable if civilization continues on the business-as-usual trajectory. Forget grandchildren, and who knows what kinds of catastrophes we will live through. This is the future we currently face without radical action. We must actively fight for the world we wish to inherit because the stakes are too high to tolerate inaction any longer.
President Faust’s statement only amplifies the moral inconsistency of Harvard’s continued investment in the fossil fuel companies that are devastating the planet and blocking climate solutions. The first part of the plan commits $1 million to investment in climate research. This is an important step forward, but it cannot be taken in good faith while the university’s $32.7 billion endowment is simultaneously invested in the corporations that drive climate destruction, fund science denialism and manipulate the political system. Now that Harvard is committing to investing in solutions, the university must make a simple choice: invest in our future or continue to support its destruction. The science is clear, and the moral line has been drawn.
The second part of the plan is a recommitment to Harvard’s on-campus sustainability efforts, with a focus on the greenhouse gas reduction goals adopted by the university in 2008. The problem is that Harvard is not even on track to reach its 30 percent reduction goal by 2016. The effort is commendable, but not nearly as much as Harvard could do, and reveals an unwillingness to take a critical moral stand when it comes to fossil fuels.