Title	Key Dates	Nature of Action	ESG Category	Summary
HB4083: Relating to the Removal of Thermal Coal from the State Treasury Investment Portfolio	Effective date 1/1/2025 Adopted 4/10/2024 Introduced 2/5/2024	Legislation	Promote Divestment from Certain Industries	■ Directs the Oregon Investment Council and the State Treasurer to make reasonable efforts to ensure that money is not invested in thermal coal companies. Requires the Oregon Investment Council and the State Treasurer to make reasonable efforts investigate all companies in which the State Treasury has invested to determine whether any of those companies are thermal coal companies.
A Pathway To Net Zero: Positioning The Oregon Public Employees Retirement Fund For A Net Zero Carbon Future	Adopted and in effect 2/14/2024	Enforcement / Divestment	Promote Divestment from Certain Industries	■ Oregon's pension fund for state employees announced that it will be reviewing its publicly listed carbon-intensive fossil fuel holdings as part of its wider net-zero plan introduced by Oregon State Treasurer Tobias Read. Holdings will need to meet minimum standards for transition readiness and risk mitigation, to be set by the pension fund. The review is expected to be completed by February 2025, with the net-zero plan aiming for 60% reduction in emissions by 2035 and net-zero emissions by 2050.
Treasurer Releases Statement on Decarbonization	Adopted and in effect 11/16/2022	Treasurer Position	Promote Divestment from Certain Industries	■Underlining the importance of achieving net zero emissions by 2050 and outlining a plan to do so, including a review of carbon intensive investments.
Oregon Investment Council Formally Integrates ESG	Adopted and in effect 9/14/2020	IPS Revisions	Promote ESG Factors in Investment and/or Proxy Voting Decisions	■Recognizes that integrating ESG factors into investment decisions may improve the economic outcome of investments and aid in risk assessment.

Title	Key Dates	Nature of Action	ESG Category	Summary
HB3478: Relating to Climate Risk Disclosures	Introduced, but did not pass in the 2023 legislative session	Legislation	Promote Divestment from Certain Industries	■Requires State Treasurer to make climate risk disclosures to potential investors when marketing securities, including bonds or finance agreements.
HB3219: Relating to pension benefit plans offered by public bodies	Introduced, but did not pass in the 2023 legislative session	Legislation	Restrict Use of ESG Factors; Focus on Pecuniary Characteristics	■Requires fiduciaries of pension benefit plans offered by public bodies to consider only pecuniary factors. Environmental, social, corporate governance and other similarly oriented considerations are pecuniary factors only if they present economic risks or opportunities that qualified investment professionals would treat as material economic considerations under generally accepted investment theories. ■Requires that all shares held directly or indirectly by or on behalf of a pension benefit plan or the beneficiaries thereof to be voted solely in the pecuniary interest of plan participants.
HB2601: Requiring State Treasurer to Divest from Certain Carbon-Intensive Investments	Introduced, but did not pass in the 2023 legislative session	Legislation	Promote Divestment from Certain Industries	■Requires the State Treasurer to ensure no carbon-extensive investments are acquired for any investment fund and prohibits the State Treasurer from executing or renewing contracts that would result in any such acquisitions. ■The State Treasurer shall exit from any publicly traded investment held in an entity listed on the Carbon Underground 200 within six months, any publicly traded investment held in an entity listed on the Urgewald Global Coal Exit List or the Urgewald Global Oil and Gas Exit List within two years, and all carbon-intensive investments (whether or not publicly traded) no later than January 1, 2035.

Legislation/Guidance in Effect

Past/Inactive Legislation

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