2024 Upcoming Elections
- Atty. General – incumbent (Democrat) not running
- Sec. of State – incumbent (Democrat) not running
- Treasurer – incumbent (Democrat) not running
Legislation/Guidance in Effect
|
Title |
Key Dates |
Nature of |
ESG Category |
|
| HB4083: Relating to the Removal of Thermal Coal from the State Treasury Investment Portfolio |
Effective date Adopted Introduced |
Legislation | Promote Divestment from Certain Industries | ■ Directs the Oregon Investment Council and the State Treasurer to make reasonable efforts to ensure that money is not invested in thermal coal companies. Requires the Oregon Investment Council and the State Treasurer to make reasonable efforts investigate all companies in which the State Treasury has invested to determine whether any of those companies are thermal coal companies. |
| A Pathway To Net Zero: Positioning The Oregon Public Employees Retirement Fund For A Net Zero Carbon Future | Adopted and in effect 2/14/2024 | Enforcement / Divestment | Promote Divestment from Certain Industries | ■ Oregon's pension fund for state employees announced that it will be reviewing its publicly listed carbon-intensive fossil fuel holdings as part of its wider net-zero plan introduced by Oregon State Treasurer Tobias Read. Holdings will need to meet minimum standards for transition readiness and risk mitigation, to be set by the pension fund. The review is expected to be completed by February 2025, with the net-zero plan aiming for 60% reduction in emissions by 2035 and net-zero emissions by 2050. |
|
Adopted and in effect |
Treasurer Position |
Promote Divestment from Certain Industries |
■Underlining the importance of achieving net zero emissions by 2050 and outlining a plan to do so, including a review of carbon intensive investments. |
|
|
Adopted and in effect |
IPS Revisions |
Promote ESG Factors in Investment and/or Proxy Voting Decisions |
■Recognizes that integrating ESG factors into investment decisions may improve the economic outcome of investments and aid in risk assessment. |
Past/Inactive Legislation
|
Title |
Key Dates |
Nature of |
ESG Category |
|
|
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Promote Divestment from Certain Industries |
■Requires State Treasurer to make climate risk disclosures to potential investors when marketing securities, including bonds or finance agreements. |
|
|
HB3219: Relating to pension benefit plans offered by public bodies |
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■Requires fiduciaries of pension benefit plans offered by public bodies to consider only pecuniary factors. Environmental, social, corporate governance and other similarly oriented considerations are pecuniary factors only if they present economic risks or opportunities that qualified investment professionals would treat as material economic considerations under generally accepted investment theories. |
|
HB2601: Requiring State Treasurer to Divest from Certain Carbon-Intensive Investments |
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Promote Divestment from Certain Industries |
■Requires the State Treasurer to ensure no carbon-extensive investments are acquired for any investment fund and prohibits the State Treasurer from executing or renewing contracts that would result in any such acquisitions. |
