Energy Exposure

NC State has come under strict scrutiny from students over the past few months for investing a significant portion of its endowment money into the fossil fuel industry.

According to data provided by the university, the investment totals to around roughly 4 percent.

The university has approximately $1 billion invested into what is known as the NC State Investment Fund. This money is invested in a variety of fields, including one titled “Energy & Natural Resources.” According to a document posted on NC State’s website, approximately seven percent of the fund is allocated for this category as of Dec. 31, 2018.

Libby P. George, director of investments at Foundations Accounting & Investments, provided a graphic via email that specifically outlined the approximately 4.3 percent that is actually invested in “Oil, Gas & Consumable Fuels” as of Sept. 30, 2018. This equates to just over $43 million.

George confirmed via email that consumable fuels referred to nonrenewable sources of energy, and renewable sources of energy represented a total of $13.2 million as of June 30, 2018. However, those funds were located throughout the portfolio rather than just the energy section.

Mary Peloquin-Dodd, interim vice chancellor for finance and administration, spoke about the Investment Fund’s breakdown.

"Our portfolio for the NC State Investment Fund is about one billion dollars, and is divided it up between different managers," Peloquin-Dodd said. "UNC Management Company is our largest manager and at roughly 87 percent of our portfolio. Our portfolio in total is a highly diversified portfolio, with potentially thousands of different companies and holdings. We tend to look at it in terms of how we discuss our performance really more based on asset classes rather than individual managers.”

In regards to specifics of the portfolio beyond asset classes, Peloquin-Dodd declined to share that information. 

“That isn’t necessarily something we would share with any individual, and it’s not something I can necessarily get my hands on anytime soon,” Peloquin-Dodd said. 

More information on the NC State Investment Fund can be found online.