Environmental, Social and Governance Policy & Socially Responsible Investing

Socially Responsible Investment Update

January 2021 - At its Winter Meeting on February 28, 2020, the Board of Trustees passed a Resolution Adopting a Socially Responsible Investing (SRI) Screening Process. At the Annual Meeting of the Board of Trustees on June 28, 2020, Board Chairperson Thomas E. Richards announced that he would be appointing an Ad Hoc Committee of the Board to consider the matter. The Ad Hoc Committee on Fossil Fuels, chaired by Trustee Dawne S. Hickton, delivered its report on Jan. 15, 2021. 

Prior Updates

The SRI committee, which was formed at the direction of Chancellor Patrick Gallagher, generated this SRI report.

SRI investing takes into account both financial and non-financial criteria in the process of allocating investment funds and managing an investment portfolio over time. Read the Chancellor Gallagher’s message on the report’s release.

SRI is a relatively new and evolving approach and the SRI committee’s report useful foundation for the University to develop an approach that incorporates and expands the use of SRI principles into its endowment investment activities. Read the Chancellor Gallagher’s response to the report’s findings. The Office of the Senior Vice Chancellor and CFO is currently reviewing and working on the steps identified in Chancellor Patrick Gallagher’s response.

Pitt Establishes Environmental Social and Governance Policy

The University of Pittsburgh’s Office of Finance has established an Environmental, Social, and Governance Policy, which will help inform investment decisions related to the institution’s Consolidated Endowment Fund.

The policy offers a systematic way for fund managers to make investment decisions after considering a range of factors, including: energy efficiency and use, hazardous materials management, water and land management, data protection and privacy, human rights, labor standards, product safety, regulatory compliance, business ethics and adherence to auditing standards.

The Office of Finance’s first annual Environmental, Social, and Governance Report, which will highlight the policy’s impact and application as it relates to the University’s Consolidated Endowment Fund, is slated for release in December 2021, for the period ending June 30, 2021.