HB 4083 prohibits investments in thermal coal companies

02/25/2024
HB 4083
VOTE:NO
Passed House
Work Session 02/27/2024 1:00pm HR E
Status (overview) of bill:https://olis.oregonlegislature.gov/liz/2024R1/Measures/Overview/HB4083
Committee assigned to bill:https://olis.oregonlegislature.gov/liz/2024R1/Committees/SEE/Overview

This bill directs the Oregon Investment Council and the State Treasurer to make efforts to eliminate certain investments in thermal coal companies. Provides that divestments must be accomplished without monetary loss to the investment funds. Provides that investments may be retained in a thermal coal company that is transitioning to clean energy.

This is a violation of fiduciary responsibilities and requires a glass ball to predict if an investment will accomplish no monetary loss. Political agendas do not mix with best practices for investments violating fiduciary oaths.

Treasurer Read is leading efforts to:

  • Support the transition of OPERF to a net-zero carbon emission portfolio by no later than 2050.
  • Set baseline emissions measurement and interim targets for managing climate risks and identifying opportunities for expanded investments in low-carbon solutions.
  • Create methodologies and frameworks to measure progress on meeting interim targets and timelines for review of investments in carbon intensive activities like thermal coal, tar sands, and fracked natural gas.

CONTACT SENATORS

CONTACT COMMITTEE

Chair Senator Janeen Sollman
Vice-Chair Senator Lynn Findley
Member Senator Jeff Golden
Member Senator Cedric Hayden
Member Senator Kate Lieber
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Comments

  1. Please vote no on HB 4083. Investments should not be made because somebody is trying to hurt a certain industry, but on the quality of the company.

  2. Vote NO! Properly managed companies have the right to compete and not be influenced by competitors in sheep’s clothing.

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