The University of Pittsburgh’s Office of Finance released its Consolidated Endowment Fund Environmental, Social and Governance report for fiscal year 2023 on May 7. The update details the CEF’s current investment into fossil fuels and the University’s plan to phase out these investments within the next decade.

Pitt released the ESG report for its $5.6 billion endowment to provide “greater clarity” on how ESG factors are applied to decisions on investments. Pitt delayed the release from December until March. The Consolidated Endowment Fund is governed by the Investment Committee of the Board of Trustees and managed by the Office of Finance.

The first Environmental, Social and Governance report for Pitt’s $5.7 billion endowment is “in the process of being finalized,” officials said Wednesday.