Bill > HB2081

This bill requires the Oregon Investment Council and State Treasurer to actively manage climate change risks in the Public Employees Retirement Fund by analyzing and reporting on greenhouse gas emissions from investments. Specifically, the bill defines key terms like "just transition" and "scope 1 and 2 emissions," and mandates that the council and treasurer pursue reducing the fund's carbon intensity by preferring investments that lower net greenhouse gas emissions. They must provide a biennial report to the Legislative Assembly detailing progress toward addressing climate change factors in the investment portfolio, including carbon intensity goals, investments in equities that support a just transition, and evolving measurement methodologies. The bill emphasizes that any actions taken must be consistent with fiduciary responsibilities and provides indemnification for the council and treasurer. Importantly, the bill does not require actions that the council or treasurer do not believe are in good faith alignment with their fiduciary duties. The act is set to take effect on the 91st day after the 2025 regular legislative session adjourns.

Budget and Finance

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB2081