The Harvard Management Company has reduced its investments in fossil fuels by 80 percent since 2008 as it works to achieve net-zero greenhouse gas emissions associated with the University's endowment by 2050, according to a company report published Thursday. âHMC has reduced its overall exposure to fossil fuelsâââincluding both direct commodity investments as well as indirect investments in companies that explore for or develop further reserves of fossil fuels held through dedicated externally managed fundsâââfrom approximately 11% of the portfolio at the end of fiscal year 2008 to less than 2% at the end of fiscal year 2020, a decrease of more than 80%,â the report reads.