Oregon Takes Another Step Toward Decarbonizing PERS Investments

The Oregon House recently passed House Bill 2081 A, which focuses on evaluating climate-related financial risk in Oregon Public Employees Retirement Fund (OPERF). The bill directs the Oregon Investment Council and the State Treasurer to assess the financial risks that climate change – and investments in high-emission companies – may pose to the fund’s performance.

Under HB 2081A, the Treasury will be required to report on the risk assessments and outline strategies to manage those risks. The bill also calls for the exploration of investment opportunities in environmentally sustainable sectors.

Oregon State Treasurer Elizabeth Steiner applauded the passage of the bill, stating, “HB 2081A commits Treasury to protect the investments that fund Oregon’s Public Employee Retirement System (PERS), by analyzing the risks carbon-intensive holdings pose to our returns over time and by taking full advantage of the opportunities the global growth of green energy provides.”

This is the latest bill this session to focus on decarbonizing PERS investments. OPRI followed two other such bills this year – HB 2200 and SB 681 – as well as a number of other bills which have been introduced during session over the years.