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Report Card 2010

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Georgia Institute of Technology

Endowment Survey

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With the publication of the College Sustainability Report Card 2010, more than 1,100 school survey responses from over 300 institutions are now available online. In total, these surveys offer more than 10,000 pages of data collected from colleges and universities during the summer of 2009 . To access surveys from other schools, go to the  surveys section  of the website. To see grades, or to access additional surveys submitted by this school, please click the "Back to Report Card" link at the beginning or end of the survey.

 

Name: Georgia Institute of Technology
Title:
Marcia Kinstler
Date survey submitted:
7/21/2009

1) How does your school handle proxy voting on environmental, social, and governance issues?
(a) We do not have the ability to vote proxies as the entire equity holdings of the endowment are invested in mutual funds (e.g. CommonFund, Fidelity, Vanguard, etc.).
(b) We ask that our investment managers handle the details of proxy voting.
(c) We provide our investment managers with general guidelines that determine our proxy votes.
(d) We provide our investment managers with specific corporate governance guidelines that determine our proxy votes.*
(e) We provide our investment managers with specific environmental and social guidelines that determine our proxy votes.*
(f) A member of our school administration determines our proxy votes.
(g) A committee of administrators and/or trustees deliberates and makes decisions on proxy votes.
(h) A committee that includes student representatives deliberates and makes recommendations or decisions on proxy votes.
(i) School community feedback is incorporated into proxy voting decisions through town hall meetings or a website.

Your answers :
Proxy voting on corporate governance matters: B
Proxy voting on environmental and social resolutions: B

*Please provide URL or attach guidelines (optional).
Please see 1.  Supplemental Information (at end of this survey response)

 
2) If you answered "g" or "h" to question 1, please provide the following information about the committee:

Name of committee:
Number of meetings held since August 2008:
Name of chair(s):
Position of chair (e.g., administrator, faculty, staff, student):
To whom does the committee report (e.g., Trustee Committee, President, Vice President):
Number of administrators on committee:
Number of alumni on committee:
Number of faculty on committee:
Number of staff on committee:
Number of students on committee:
Number of trustees on committee:
Total number of committee members:

3) Please indicate what information about proxy voting records is made available to each of the groups listed under "Your answers" (select all that apply):
(a)  No information is made available
(b)  Votes cast on proxy resolutions only by category (and not company specific)
(c)  Votes cast on proxy resolutions on a company-specific level
(d)  Votes cast on proxy resolutions on a company-specific level, including the number of shares

Your answers :
Trustees and senior administrators: B-C
Trustees, senior administrators and other select members of the school community: A
All members of the school community including faculty, staff, students and alumni: A
The public per open records law: A
The public: A

4) Where is information about proxy voting records made available?
(a) Information is not made available.
(b) Information is available at the investment office or similar office on campus.
(c) Information is sent to individuals upon request.
(d) Information is on the school website with password protection.
(e) Information is on the school website and is accessible to the public.

Your answers :
To the school community. A
Proxy voting records on environmental and social resolutions:
Proxy voting records on corporate governance matters:

To the public. A
Proxy voting records on environmental and social resolutions:
Proxy voting records on corporate governance matters:


5) Please indicate what information about endowment holdings is made available to each of the groups listed under "Your answers" (select all that apply):
(a)  No information is made available
(b)  Asset allocation
(c)  List of external managers
(d)  List of mutual funds
(e)  Equity holdings
(f)  Fixed income holdings
(g)  Real estate holdings
(h)  Hedge fund holdings
(i)  Private equity holdings
(j)  Venture capital holdings
(k)  Natural resource holdings
(l)  Cash
(m)  Other holdings (please specify)
(n)  All holdings

Your answers :
Available to trustees and senior administrators: B -N
Available to trustees, senior administrators, & other select members of the school community: B
Available to all members of the school community, including faculty, staff, students, & alumni: B
Available to the public per open records law: B
Available to the public: B

 
6) Please indicate where information about endowment holdings is made available to the school community and to the public:
(a) Information is not made available.
(b) Information is available at the investment office or similar office on campus.
(c) Information is sent to individuals upon request.
(d) Information is on the school website with password protection.
(e) Information is on the school website and is accessible to the public.

Your answers :
To the school community: E

http://www.gtf.gatech.edu/annualreports.html
To the public: E

http://www.gtf.gatech.edu/annualreports.html

7) Is your school currently invested in any of the following areas? (Please list all that apply.)
(a) Renewable energy funds or similar investment vehicles
(b) Community development financial institutions or community development loan funds
(c) On-campus energy and/or water efficiency projects through the endowment (as an investment and not a payout)
(d) None of the above

Your answer :

A, B, C

           

The Georgia Institute of Technology has made several investments in alternative energy, most of which are in venture capital funds.

An economic development study conducted by the State of Connecticut ranks Georgia Tech among the nation’s elite institutions for generating economic development through university transfer of technology.


The Institute prioritizes investing to maximize profit and is also exploring renewable energy investment funds or similar investment vehicles.  The $200 million investment in Technology Square completed in 2003 by the Institute and Foundation has been the Foundation’s largest single investment.  Technology Square, a Georgia Tech community development project revitalizing Midtown Atlanta, was designed to LEED standards including an investment in the 13 th LEED Silver building in the U.S.,  and showcases Tech’s commitment to developing an international campus to teach sustainable business in a global economy.  Four Tech Colleges and the Foundation have invested in the 2007 Solar Decathlon, as an examples of its public sustainability investments. Georgia Tech Foundation … also funded a research project titled, “Sustainable Rehabilitation of Industrial Urban Sites, along with many other sustainability efforts.

 

In 2006, President Clough reported back to the Georgia Tech Foundation on the Return on Investment of Foundation funds at Georgia Tech.  The report details funding of undergraduate research, international programs, alternative fuels research, student-athletes, and countless others.  ..Foundation funds move the Institute toward defining a future where technology is utilized to save lives and solve problems on a scale never before imagined.  http://www.gatech.edu/president/assets/ROI2006.pdf

 

The 2007 Annual Report for Georgia Tech includes significant summaries on our goal of  saving lives and the environment (vanishing boundaries), Research with Foresight (Dealing with Carbon Emissions, Making Ethanol Cost Competitive Harnessing the Potential of Solar Power, Forging the Future of Alternative Energy, Understanding Climate Change, Sustaining an Efficient, Affordable Healthcare System), Campus makes major strides toward sustainability (signed the President’s Climate Commitment and the LEED Gold Klaus Building), Global Outreach and Education (Fostering Global Economic Development and Modern Infrastructure, Leading the Way in Global Education), Economic Growth and Innovation, Community Integrity and Vitality.  http://www.gatech.edu/president/assets/AR2007.pdf

(1) http://www.gatech.edu/technology-square/gtf.php

(2) http://www.gatech.edu/news-room/release.php?id=188

(3) http://www.gatech.edu/technology-square/address-clough.php

(4) http://www.gtf.gatech.edu/GTF_Annual_Report_2003.pdf page 2

(5) http://www.gatech.edu/newsroom/release.html?id=543    An economic development study conducted by the State of Connecticut ranks Georgia Tech among the nation’s elite institutions for generating economic development through university transfer of technology.


8) Is your school currently exploring investment in any of the following areas? (Please list all that apply.)
(a) Renewable energy funds or similar investment vehicles
(b) Community development financial institutions or community development loan funds
(c) On-campus energy and/or water efficiency projects through the endowment (as an investment and not as a payout)
(d) None of the above

Your answer : A, B, C

9) Does your school have any investment policy provisions, or use any investment managers, that consider environmental/sustainability factors?
(a) No
(b) Yes (please describe)
(c) Currently under consideration (please describe)

Your answer : C – environmental factors are one of the factors used for evaluation, along with financial considerations

10) Does your school offer donors the option of directing gifts to an investment fund that considers environmental/sustainability factors?
(a) No
(b) Yes (please describe)
(c) Currently under consideration (please describe)

Your answer :  B Yes.


from the Office of Development website:  funding priorities:

College of Engineering

As the largest college of engineering in the United States, ranked fourth in the nation for its doctoral program, the College of Engineering is a world-class leader in technological education, research, and service. With current focus areas in energy, environment, and health systems, we're continuing to anticipate—and meet—the changing demands of tomorrow's world. http://www.development.gatech.edu/priorities-needs/colleges-schools-programs/engineering.php

 

 

Sustainability, Energy, and the Environment

Georgia Tech has adopted a 20-year strategy to ensure that every student, faculty, and staff member understands his or her role in creating a more prosperous and sustainable society.   Through collaborative interactions, experts across the Tech community are developing innovative energy technologies for a self-sustaining energy economy.  Two overarching institutes that embody the Institute’s commitment are the Strategic Energy Institute (SEI) and the Brook Byers Institute for Sustainable Systems http://www.development.gatech.edu/priorities-needs/colleges-schools-programs/interdisciplinary.php

 

Eco-Commons is a unique project that leverages the development of a new storm water management system as an opportunity to provide new wooded and open areas for education, research, and passive and active recreation on the Georgia Tech campus. In keeping with Georgia Tech's focus on sustainability, this innovative concept will provide significant improvements to the quality of life on campus through effective land use, while at the same time serving as an outdoor lab for storm water management and hydrology studies. http://www.development.gatech.edu/capital-projects/eco-commons.php

Alumni Center Commemorative gift opportunities  …

Outdoor Garden

 

Roof Top Garden   …..

 

http://www.development.gatech.edu/capital-projects/alumni-opportunities.php

 

 

etc

 

(1)  http://www.development.gatech.edu/priorities-needs/facilities.php

(2)  http://www.development.gatech.edu/priorities-needs/early-career.php

(3)  http://www.development.gatech.edu/priorities-needs/eminent-scholars.php

 
Question 11 is for informational purposes only; responses will NOT be included in the Report Card evaluation process .

11) Please provide total endowment value as of the following dates:
6/30/2008: $1.59 billion
9/30/2008:
12/31/2008: $1.18 billion
3/31/2009:
6/30/2009 (may be submitted separately at a later date): Will be available in late August 2009.

 

Georgia Tech is pleased to see the Endowment Institute revising the survey questions and range of acceptable answers in this survey.  However, the questions on sustainability need to include impact and results of our alumni via actions rather than proxy voting.  To this end, we submit the following information for your review:

 

1.      Supplementary information:

 

SEI encourages the use of proxy’s and shareholder engagement 

Georgia Tech encourages the use of interdisciplinary partnerships, in “stakeholder engagement”.

 

Our Stakeholder Engagement is similar to SEI’s explanation for Shareholder Engagement that

(1)  forming a shareholder responsibility committee to advise the trustees allows schools to include students, faculty, and alumni in research and discussion of important corporate policies on sustainability.

(2)  These committees offer exceptional educational opportunities at the intersection of policy, business, and sustainability.

(3)  Points were awarded to schools that had formed such committees as well as for past votes on sustainability-related proxy resolutions

 

As an example of Georgia Tech’s recognition of stakeholder engagement being a responsibility of our students  - as graduates of the technological research institute of the 21 st century – here are some excerpts from President Clough’s 2007 State of the Institute address:

 

As the 21st century unfolds around us, the future shape of that new technological research university is becoming clear. It is collaborative in its nature. It is innovative, continually reshaping its educational experience and refocusing its research thrusts to produce the talent and the discoveries the future demands. It embraces the challenge of creating solutions to the world’s seemingly intractable p problems and shaping the way in which technology is used….

 

A university that is collaborative, interdisciplinary, and global has a unique educational experience to offer. It gives students an opportunity to become both broader and deeper – an opportunity to gain deeper knowledge and expertise in a chosen field, but at the same time to see that chosen field in a global context. It is an opportunity to become a citizen of the world as well as an architect, scientist, engineer, historian, or business leader……….. Where students learn to not only work in groups, but to lead….

 

Georgia Tech has 125 interdisciplinary centers …

 

Most of the important problems facing the world today are broad and call for the participation of interdisciplinary teams to solve. Energy, for example. Political volatility in the Middle East, growing energy demands from large, emerging nations such as China and India, and deepening concern about global warming have made energy a priority issue for the nation and the world. Our response has been to create the Strategic Energy Institute to bring together researchers from areas of policy, engineering, science, and earth and atmospheric sciences to craft a comprehensive, sustainable approach to the problems….

 

For example, the combination of global warming and rising fuel prices has focused national attention on biofuels. Georgia Tech is a partner in a new $125 million biofuels …

 

But energy issues do not exist in a vacuum. They are intertwined with climate change and environmental sustainability. Studies on how the earth’s climate is changing by Civil Engineer Peter Webster and Judy Curry in Earth and Atmospheric Sciences have provided new insights into how this occurs and propelled Georgia Tech into the national spotlight. …

 

SEI researchers like Bill Koros and Ron Chance are among the national leaders in developing solutions to address the seminal carbon issue with capture and sequestration. Given the growth in world energy demands, there is no question that carbon-based fuels will continue to be used, and Georgia Tech will be among the leaders in developing technologies for carbon capture and sequestration. ….

 

The SEI approach also recognizes the importance of public policy. New faculty member, Nobel Laureate, Marilyn Brown is nationally recognized for her work on the policy underlying big picture energy, climate and sustainability issues. …

 

Our students are not hesitant about getting into this picture. An interdisciplinary team of students and faculty from architecture, engineering, the sciences, and management competed for and won the opportunity to participate in a national Solar Decathlon. Their full-sized, solar-powered house, which is remarkable in its design, placed 6 th in this competition but the student interactions and interdisciplinary approach to this project was our real prize.  ….

 

We have strategic international education and research platforms in France, Ireland, and Singapore, with a few more under consideration. We have collaborative research partnerships with other universities in all three of these locations whose research thrusts align with ours. And we have joint degree programs that allow our students and those of partner institutions in places like France, Singapore, and Shanghai to earn dual degrees.

We are engaged in economic development activities in all of these places, which enable us in turn to facilitate international relationships with businesses from Georgia. We bring a genuinely international perspective based on experience to the policy table on issues that cross national boundaries – from the environment to electronic communications. ….

 

And finally, we are engaged with the highest levels of government at home and abroad in helping to shape the emerging global economy.  Georgia Tech is working hard to become a genuinely global.. One of the characteristics of a global university is that it links to the highest levels of government in multiple international locations.   ….

 

Here you see some of the global leaders who came to our campus in the course of the past year.   …

 

The President of Ireland and high-level officials from France reflect the partnerships we have with these nations to conduct research and do technology transfer and economic development to our mutual benefit. In addition to the visit of President McAleese to Georgia and Georgia Tech, Georgia Governor Perdue led a trade mission to Ireland, facilitated by Georgia Tech.  …

 

The newly elected President of Liberia came to Georgia Tech last September to make her first address on the role of information and communication technologies in the development of this war-torn nation. And the reason was because faculty and graduate students in international affairs and computing were advising Liberia on developing its first ever information and communication technology policy, which was unveiled last spring.  …

 

Our goal is to understand… to use our knowledge and expertise to transform the quality of life for the better for this planet and all of its inhabitants.

 

  • Our students, faculty, staff and alumni stakeholders are engaged in dialogue, discussion, education, and leadership of sustainability among and within NGOs, government, stockholders, and our endowment.  Application of endowment earnings and funds, unrestricted funds, grants and other appropriate revenue funds have been applied to support research, projects, innovation, and partnerships in sustainability around the world.

 

 

  • We have over 200 courses which teach sustainability. Our goal is for every student to have at least one course in sustainability by the time they graduate.  Every college has sustainability content in their academic and research content.  Our students influence their friends and also their families (children often educate their parents on sustainability topics much more effectively)

 

  • Professionals come to Georgia Tech’s executive education programs, distance learning and professional education programs, and topical conference for ongoing education in their professions and in sustainability but usually, for both.  They also read professional publications and join professional associations where Georgia Tech experts publish and present on sustainability.

 

  • Our alumni (300,000+) return for reunions but receive updates from each other and from our current faculty, staff, and students for new insights, which often includes sustainability.  They also read Alumni publications which feature our sustainability leadership.

 

  • Employers hire our students (over 170 companies employ more than 25 Georgia Tech alumni) knowing that they will bring with them good academic training, research exposure, and interdisciplinary problem solving abilities along with sustainability insights.

 

  • Our alumni are influential beyond their numbers.  For example, while our alumni form less than 1% of the [Atlanta] area population, they represent over 10% of those deemed most influential in Atlanta.

 

  • Our researchers and faculty consult with businesses, NGO’s, and governments, engaging them in projects, and in the exceptional educational opportunities at the intersection of policy, business, and sustainability. 

 

(1)  Two examples from our Sustainable Design and Manufacturing Research Center include;

(a)    Ford Motor Company reduces environmental impact 7%

(b)    Coca-Cola reduces energy consumption 23%, water by 15%

 

(2)  Another example is the partnership between the WWF and Coca-cola. Some quotes about it include:

 

Traditionally, leading activist non-governmental organizations (NGOs) have been far more likely to attack than work with huge global corporations.  But times are changing, and a small number are recognizing that they must alter their strategies if they expect any real change to occur.  As WWF US’s chief operating office Marcia Marsh says, “The simple fact is that we are failing relative to our larger goals.  Despite our successes in raising public awareness and funding, species are disappearing at historic rates.  Habitat continues to be destroyed.  Working alone, NGOs are simply unable to reverse the tide of global change.  To do this, we will have to develop new partnerships with business and governments, partnerships whose scale of impact is commensurate with the problems we face.”   ….

 

Moreover, today, a growing number of major corporations like Coke have come to the same conclusion:  that the expertise, stature, and combined public and commercial influence of the two sectors working together may be crucial to fundamental sustainability challenges like water. [1] 

 

Coca-Cola Enterprises Inc’s Chairman of the Board, Chief Executive Officer, President, Member of Executive Committee and Member of Corporate Responsibility & Sustainability Committee . , John F Brock III, is a Georgia Tech alumni and a Georgia Tech Trustee.

 

[1]  The Necessary Revolution, How Individuals and Organizations are Working Together to Create a Sustainable World by Peter Senge, Bryan Smith, Nina Kruschwitz, Joe Laur, Sara Schley, Doubleday, 2008

 

Both the WWF and Coca-cola participated in a World Water Day 2008 event on Georgia Tech’s campus with our students, faculty, and staff.   Georgia Tech also led similar conferences on Climate Change and on Georgia’s Drought.

 

Source:  http://www.stewardship.gatech.edu/endowment.php

 

 

 

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