By SIMON CONSTABLE
NEW YORK (TheStreet) -- Harvard's $32.7 billion endowment would generate significantly lower returns if climate-change activists convince the university to abandon fossil fuel investments, according to a new study.
Such a strategy might cost more than $100 million a year, according to the report, which was commissioned and financed by the Independent Petroleum Association of America. It examines the effects of divestment on five universities with large endowments and indicates cutting out those stocks would have "material impacts" on the ability of the portfolios to meet schools' funding goals. Read more here.
Photo by Clay Banks on Unsplash
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