Divest Oregon Launches "Risky Business: Oregon Treasury's Fossil Fuel Problem"

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The Oregon State Treasury needs to change its investment strategy, concluded a new report which Oregon PSR co-sponsored called "Risky Business: Oregon Treasury's Fossil Fuel Problem." The report details the investments in fossil fuels made by the Oregon State Treasury that are known to the public, and outlines how continued support of the fossil fuel industry by the state exposes Oregonians to climate and health risks, economic cost, and financial risks. "Risky Business" reveals how the Oregon State Treasury has at least $5.3 billion invested in fossil fuel companies with over $1 billion invested in the coal industry alone. A great place to find a summary is on Divest Oregon's Report webpage.

The Oregon State Treasury manages roughly $140 billion. $100 billion of this is in PERS, the 56th largest retirement fund in the world in 2021. In light of the risks posed by fossil fuels, and the associated loss on investments, the report recommends that the Oregon State Treasury 1) stop all new investments in fossil fuels; 2) annually release a public list of all portfolio holdings in every asset class; and 3) phase out all current fossil fuel holdings and move to climate-safe investments, using a social justice framework that accounts for climate impacts on frontline communities across the state, including rural communities and communities of color.