New Harvard President Holds Line on Divesting From Fossil-Fuel Stocks

Harvard University president Lawrence Bacow says the school with the world's largest educational endowment will not divest its stock holding in companies that sell fossil fuels like oil, natural gas, and coal.

Bacow, who became president of the country's oldest school of higher learning July 1, is continuing a longstanding Harvard policy, but he is adding a twist:  Not only should the endowment's investment portfolio not be used a vehicle for social change, but divesting would not yield the desired result.