State Treasurer Fossil Fuel Divestment Plan

What is happening? Oregon Treasurer proposes that the state’s  $90 billion fund stop investing in companies that emit planet-warming greenhouse gases by 2050 so long as the fiduciary duty to the beneficiaries is supported. The move will have 2 steps: first, 50% decarbonization of the state’s assets by 2035 and, second, a net zero greenhouse gas emissions by 2050.

Why is this important? This isn’t new. CALPERs in California has similar divestment policies, that also requires responsibility to beneficiaries. New York State Pension fund has announced that it will no longer have fossil fuel stocks or shares of companies that increase climate change by 2040.

OPB | Oregon’s treasurer wants $90B pension fund to drop fossil fuels