New Harvard Management Company Website Removes Divestment Information, Defends Natural Resources Holdings
Harvard Management Company updated its website within the last month to remove any mention of past instances of divestment and to include references to its protocols on its investment in land and agriculture.
Bacow’s position comes at a time when student activists from across the University are reinvigorating their calls for Bacow and the Harvard Management Company — the University’s investment arm — to withdraw its controversial investments.
Harvard’s contribution to the City of Boston in 2018 fell short of the amount of money the city requested from the University as part of a program in which some schools make contributions to the city instead of paying taxes.
Among some of the corporations that have expanded into the region in recent years is an unlikely investor — the Harvard Management Company. HMC, the University’s investment arm, oversees Harvard’s nearly $40 billion endowment.
More than 100 Harvard affiliates gathered outside of Massachusetts Hall Friday to deliver a petition to University President Lawrence S. Bacow urging Harvard to disclose and divest its holdings in companies tied to the prison industry.
Graduate Student Criticizes Harvard’s Reimbursement Policies As a Financial and Psychological ‘Burden’
The discussion surrounding reimbursement issues was refreshed after Speech and Hearing Bioscience and Technology Ph.D. candidate Jessica E. Sagers published an op-ed in Science Magazine, detailing how she and her peers have suffered under Harvard’s current reimbursement policies.
Harvard Management Company, the University’s investment arm, invests more heavily in technology companies than the other four largest university endowments in the country, according to the most recent U.S. Securities and Exchange Commission filings.
Graduate School of Arts and Sciences Dean Emma Dench announced that Ph.D. students on financial support will see their stipends increase by 3 percent during the 2019-20 academic year in an email to GSAS affiliates Wednesday.
Harvard raised $1.42 billion in fiscal year 2018, the University’s largest-ever annual fundraising sum, and a higher education record. The total represents a more than 10 percent growth over its fiscal year 2017 donation income.
Two divestment activist groups organized on Harvard’s campus last week, calling for ends to the University's farmland holdings and companies connected to the U.S. prison system.
Harvard spent $600,000 lobbying the federal government in 2018, a figure $10,000 less than the amount the University spent in 2017. Though last year’s figure marked a slight decrease in expenses, lobbying costs have generally seen an uptick in the last five years as Harvard faces a hostile political climate.
Amid Harvard’s dismissal of calls for fossil fuel divestment, Harvard Management Company — the group that oversees the University’s $39.2 billion endowment — has been one of the lead investors in a methane emissions reduction working group started in 2017.
Harvard voted on shareholder proposals concerning digital media content and corporate tax policy for the first time in 2018, among a series of other issues that have previously arisen, according to the University’s annual shareholder responsibility report published Tuesday.
2018 was a momentous year for Harvard. As the University welcomed its 29th president Lawrence S. Bacow, it struggled with numerous challenges including lawsuits alleging discrimination, accusations of sexual harassment levied at prominent affiliates, and an "unprecedented" endowment tax. As the year comes to an end, The Crimson examines the ten stories that most defined 2018.