Harvard University launches $20m climate fund
Climate Change Solutions Fund launched by Harvard president Drew Faust with students set to submit proposals for low-carbon, clean energy projects that promote the green economy.
The president of Harvard University has announced a new fund that will support climate change projects that promote sustainability.
The Climate Change Solutions Fund was launched by Drew Faust on Monday, with the aim of raising US$20 million (£12 million) so that students can submit proposals for low-carbon, clean energy projects that promote the green economy.
In a letter to the student community, Faust wrote, “Ideas, innovation, discovery and rigorous independent thought will serve as indispensable elements in combating the climate threat; these are the special province of universities. Harvard has the opportunity and the responsibility to help create the path to a sustainable future. We can and must galvanise the deep commitment of students, faculty, staff and alumni to work together to move us closer to a world founded on renewable energy.”
Action from the university will be focussed in three different areas: research, energy use and investment.
Harvard has become a signatory to the United Nations-backed Principles for Responsible Investment (PRI) and the CDP, formerly known as the Carbon Disclosure Project.
Speaking about Harvard’s decision to become a signatory of the PRI, managing director Fiona Reynolds said, “Harvard University is the first US endowment to publicly commit to investing its funds in a more responsible and sustainable manner, and we are thrilled to welcome them to the PRI. Sustainable investment is one of the world’s fastest growing investment trends and Harvard’s leadership provides a model for other US universities.”
In October last year, Faust announced that Harvard would not be cutting its ties with fossil fuel companies, despite calls from students to do so.
