The report of the Ad Hoc Committee on Fossil Fuels was publicly posted on February 19, 2021 with an array of findings and options for the University of Pittsburgh’s Board of Trustees to consider at its next public meeting on Feb. 26, 2021.
The 124-page report summarizes 6 months of work by Ad Hoc Committee, including a month-long public comment period, 2 open forums, 12 committee meetings, 11 interviews with internal and external experts examining the investment landscape and Pitt’s investment strategies and performance, and copious background resources.
The 2-pages of findings and options presented to the full Board of Trustees for consideration stem from the Ad Hoc Committee’s findings that global concerns about greenhouse gas emissions have made fossil fuel investments less financially attractive in recent years. As a result, Pitt’s investment exposure to fossil fuels has decreased by more than 42%, from 10% of the endowment’s funds in fiscal year 2015 to 5.8% at the end of fiscal year 2020. Expectations have the endowment’s private investments in fossil fuels running off to zero by 2035.
Read the full Pittwire announcement.
Read the Ad Hoc Committee’s full report.
Provide public comment on the report to the Board.