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500 students, faculty, alumni, and community members march though Harvard Yard at the "The Tide Is Turning" rally. 350.org

Kathryn "Kat" Taylor, a member of the Harvard Board of Overseers and wife of billionaire climate activist Tom Steyer, made an unprecedented public call on Harvard University to divest from fossil fuel stocks.

The action comes after the university's $37.1 billion endowment—the world's largest academic fund—reported a lackluster 8.1 percent return that reflected "deep structural problems" that will take years to turn around, its endowment manager said.

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