The Oregon Investment Council (OIC) has issued a statement addressing why the Oregon Public Employees Retirement Fund (OPERF) retains holdings in fossil-fuel companies, as climate-change concerns continue to grow.
OIC said decisions about OPERF and how it’s invested must meet state law, which requires the council to prioritize long-term, risk-adjusted investment performance above everything else.
“Decisions that put political or social goals first are not allowed, which is understandable when not every Oregonian would agree about what those decisions might be,” OIC said. “What is allowed – and what guides Treasury’s work when making investment decisions – is better understanding ALL factors that influence and affect the long-term soundness of a particular investment.”
For OPERF, that means several things, including formalizing the evaluation of ESG factors into decision-making; having a better understanding of real-world risks across asset classe
