Harvard, the world’s richest university, is set to appear in court over calls to divest from fossil fuels, Harvard is asking the court to dismiss the case against it. A group of students filed a lawsuit against Harvard for “mismanagement of charitable funds”.
The suit, filed by seven students, argues that fossil fuel investments are damaging to the university’s reputation and its students future prospects. The group also accuses Harvard of putting profit ahead of the threats that climate change poses.
The university has also faced pressure from staff, in April 2014, 93 professors from the university signed an open letter that labelled the president’s attitude to climate change as “contradictory” and argued that divesting from fossil fuels is an act of “ethical responsibility”.
Despite signing the Principles for Responsible Investment and setting up a $20 million (£13m) climate fund, the school has maintained that it will not cut fossil fuels out of its portfolio.
Speaking to the Guardian, Alice Cherry, one of the students that filed the lawsuit, said, “This is important to us because climate change is supposed to be a huge problem and so far our existing institutions have been unable to address it in a way that is commensurate with the problem.
“We think it is past time for our legal system to have something to say about it.”
Despite facing calls for divestment from both students and academics, reports last month suggested that Harvard actually increased its investment in the fossil fuels industry. During the third financial quarter of 2014 the university increased its investment in polluting energy sources from $11.8 million (£7.7m) to around $79.5 million (£52m).
Photo: See-ming Lee via flickr
Like our Facebook Page
Investing in a Sustainable Environmental Future for Northern Virginia
Prominent Trends in Seafood Sustainability in 2022
Can PEMF Help To Improve Plant Growth for Eco-Friendly Gardeners
How the U.S. Government is Promoting Green Energy in the Country
12 Essential Things for Buying Your First Home
Harnessing Sustainability with User-Centric Technology Innovation
Making Your Dream of Having an Eco-Friendly Garden Come True
Tips for Optimal Waste Management in Your Home
The Agricultural Benefits of Weather Stations for Eco-Friendly Farmers
What Makes Online Furniture Eco-Friendly?
7 Eco-Friendly Plant-Based Alternatives for Everyday Products
Top 5 Benefits of Eco-Friendly Cars
Why Eco-Friendly Homes Should Have Outdoor Bathrooms
Merits of Sustainability Reporting: What Every Manager Must Know
Low Emission and Clean Air Zones: What You Need To Know
4 Ways To Build A Sustainable Home
CEO Brian Ladin Explains How The Shipping Industry Is Going Green
A Guide to Eco-Friendly Landscaping
Why Transitioning Your Company to an EV Fleet Makes Sense?
6 Practices for Sustainable and Eco-Friendly Plant Operations
- Features11 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy12 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features11 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Features10 months ago
5 Compelling Reasons to Hire an Eco-Friendly Contractor