Oregon State Treasurer Elizabeth Steiner issued a statement applauding today’s bipartisan passage of House Bill (HB) 2081A, which commits Treasury to analyzing and managing the risks that investments in greenhouse gas emitting businesses may pose to the Oregon Public Employees Retirement Fund’s performance.

The vote was 36-18 in support (with 2 Republicans voting in favor of the bill).

Today, Treasurer Steiner said:

“The bipartisan passage of HB 2081A marks an important step for the retirement security of Oregon’s public employees – and the wellbeing of everyone in Oregon. A rapidly changing climate is stressing communities and reshaping the global economy, causing markets to adapt. These changes create opportunities for climate positive investments. 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.

I appreciate the forward-looking vision of the legislators – Democrats and Republicans – who passed this bill in the House. And I thank the many labor leaders who worked with Treasury to shape HB 2081A and voiced the strong support of their members – many of whom are PERS beneficiaries – for its passage. I urge the Senate to pass the bill and send it to Governor Kotek for her signature.”

Note: House Bill 2081A was formerly House Bill 2200.