The oil companies’ recent gains, driven by a recovery in energy prices from a pandemic-induced slump, ran counter to the trend of the preceding five years. Their investors saw a net loss of 21% over that period, compared with a total return of 62% in the wider index.
Harvard Management said in 2017 it would it take into consideration the environmental impact of some its investments, but that move wasn’t seen as enough by the students. Harvard’s endowment was valued at $41.9 billion as of June 2020, making it one of the largest among private U.S. universities.
--With assistance from Dan Murtaugh, Janet Lorin and Joanna Ossinger.
This article was provided by Bloomberg News.