Oregon State Treasurer Presses to Divest From Fossil Fuels

State Treasurer Tobias Read aims to make the $100 billion Oregon Public Employees Retirement Fund, the 16th largest pension fund in the nation, carbon neutral by 2050.  The fund currently has approximately $5.3 billion invested in fossil fuel companies and $1 billion in companies that mine and burn coal, according to an April 2023 report from Divest Oregon. Mr. Read previewed the framework of the “Net-Zero Plan” at a Jan. 11 meeting of the Oregon Legislature’s Emergency Management, General Government and Veterans committee.  On Feb 6, he will present the full proposal to the five-member Oregon Investment Council (OIC). Mr. Read hopes that OIC will embrace his goal of 50 percent decarbonization of the state’s assets by 2035 and net zero greenhouse gas emissions (GHG) by 2050. He may also propose a more ambitious target as early as 2040....