Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Climate Risk Investment Policy topic
No spam. Unsubscribe anytime.
Committee advances bill requiring climate-risk analysis for state investment managers
Summary
House Bill 2081A would require the Oregon Investment Council and the state treasurer to analyze and manage climate-change risks across the funds they oversee and submit biennial progress reports to the legislature; the committee moved the bill to the floor with a 3-2 vote.
The Senate Committee on Finance and Revenue agreed to send House Bill 2081A to the floor with a due-pass recommendation after considering language that would require the Oregon Investment Council and the state treasurer to incorporate climate-change risk analysis and management into their investment oversight and to report progress biennially to the Legislative Assembly.
A staff summary described the bill as one that “would require the Oregon Investment Council and state treasurer to incorporate an analysis and management of the risks of climate change into the management of funds that they oversee, as well as require them to submit a biennial report to the legislative assembly regarding the progress toward an investment program that addresses the impact of climate change on the portfolio.”
Vice Chair McLean moved House Bill 2081A to the floor with a due-pass recommendation. After roll call, the committee announced the motion passed with a 3-2 vote. The committee then assigned a carrier to the measure and closed the work session.
Committee discussion during the open work session was brief in the transcript and recorded no substantive amendments; staff indicated the proposal would require work by the Oregon Investment Council and the treasurer to produce the periodic report to the legislature if the bill is enacted.
No detailed fiscal impact or implementation timeline beyond the biennial reporting requirement was recorded during the committee’s discussion on June 2.
