Oregon House directs treasury to analyze climate risks to public pension fund, approves carbon‑intensity reporting

The Oregon House on May 1 passed House Bill 20 81, directing the Oregon Investment Council and the state treasurer to analyze and manage climate-related risks to the public employees’ retirement fund and to pursue reduced carbon intensity through investment preferences so long as actions are consistent with fiduciary responsibilities.

The bill requires the treasury and the investment council to assess scope 1 and scope 2 emissions tied to fund holdings, analyze how climate-related risk analysis could affect portfolio returns, pursue a goal of reducing carbon intensity through preference for investments that lower net greenhouse gas emissions, and provide a collaborative biennial report to the Legislative Assembly on progress and methods. Sponsor Representative Graeber said, “please pay attention to this part. This bill explicitly states…