Crimson staff writer
Kevin A. Simauchi
Crimson staff writer Kevin A. Simauchi can be reached at email@example.com. Follow him on X @simauchi.
Harvard chief financial officer Thomas J. Hollister said the University’s finances are “moving in the right direction” in a Wednesday interview, though he cautioned that officials remain alert in the ever-changing landscape of the Covid-19 pandemic.
Harvard’s Committees on Shareholder Responsibility voted on three resolutions presented to Facebook shareholders during the last fiscal year, according to a report published earlier this month.
Divest Activists Lambast Harvard’s Remaining Ties to Fossil Fuel Industry in Research Funding, Governance
Fossil Fuel Divest Harvard published a report criticizing the University’s remaining links to fossil fuels within its faculty, governance, and research.
HMC sold its holdings in several technology and pharmaceutical companies while increasing its investments in Facebook in the third quarter of 2021.
Though the Harvard Management Company reported record-breaking returns last Thursday, several financial experts said it still lags behind the performance of key financial indices and its peer institutions.
Harvard finished the fiscal year ending in June 2021 with a budget surplus of $283 million, despite a $124 million drop in revenue, according to the University’s annual financial report released Thursday.
Harvard Management Company returned 33.6 percent on its investments for the fiscal year ending in June 2021, skyrocketing the value of the University’s endowment to $53.2 billion, the largest sum in its history.
Several financial experts predicted that the Harvard endowment will post returns of at least 20 percent for fiscal year 2021, which would bring the endowment to its largest sum in history.
Fossil Fuel Divest Harvard plans to encourage the University to invest in green economic initiatives after Harvard’s surprise announcement that it intends to divest from fossil fuels.
Harvard became entangled in a feud over olive oil earlier this year when the California Legislature moved to regulate how the community is labeled — in part in response to the business practices of a company previously owned by Harvard Management Company.