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Treasurer, unions and business groups spar over HB 2200 dash 1 on climate risk and PERS investing
Summary
A lengthy public hearing on House Bill 2,200 (dash 1 amendment) drew sharply divided testimony about whether the state treasury should prioritize climate-related risk analysis and emissions reduction goals for the Oregon Public Employee Retirement Fund.
Chair Tran opened public testimony on House Bill 2,200, a bill that would require the state treasurer and the Oregon Investment Council to analyze and manage climate-related risk in the Oregon Public Employee Retirement Fund (OPRF) and pursue reductions in the fund’s carbon intensity through an investment preference. Elizabeth Steiner, Oregon state treasurer, and more than a dozen witnesses provided pro and con testimony during the committee’s March 13 hearing.
The dash 1 amendment, as Treasurer Elizabeth Steiner described it, “requires biannual reports from Treasury to the legislature, reaffirms our fiduciary commitment to beneficiaries and OPRF, and asks us to actively manage, analyze, and manage the risks of climate change to the public employee…
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