Harvard University will allow fossil fuel investments to expire

Harvard University is ending its investments in fossil fuels, the school's president said on Thursday, drawing praise from divestment activists.

In a letter posted on the school's website, President Lawrence Bacow said the school's endowment had no direct investments in fossil fuel companies as of June and will not make such investments in the future.

In addition its indirect investments in the fossil fuel industry "are in runoff mode," he said.