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Treasurer urges support for bill to assess climate risk to Oregon public pension fund; business group warns of fiduciary conflict
Summary
State Treasurer Elizabeth Steiner told the House Committee on Revenue on April 22 that House Bill 2,081, as amended by the dash 1, would require Treasury to evaluate and integrate climate‑associated financial risk into management of the Oregon Public Employee Retirement Fund, the state pension plan for public employees.
State Treasurer Elizabeth Steiner told the House Committee on Revenue on April 22 that House Bill 2,081, as amended by the dash 1, would require Treasury to evaluate and integrate climate-associated financial risk into management of the Oregon Public Employee Retirement Fund, the state pension plan for public employees.
The bill would require biennial reports to the Legislature and direct Treasury to analyze the effects of carbon‑intensive investments on long‑term fund returns. "Treasury is tasked with managing the Oregon public employee retirement fund or OPerf and has a fiduciary responsibility to maximize the long term returns of the fund on behalf of beneficiaries," Steiner said. She said the dash 1 emphasizes that fiduciary responsibility…
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