Oregon Revised Statutes Chapter 293 § 293.800 — Identification of and engagement with thermal coal companies; rules

Identification of and engagement with thermal coal companies; rules. (1) The Oregon Investment Council and the State Treasurer, in the State Treasurer’s role as investment officer for the council, shall make reasonable efforts to investigate all companies in which the State Treasury has invested or may invest moneys in subject investment funds to determine whether any of those companies are thermal coal companies. (2) If the State Treasurer determines that subject investment funds are invested in a publicly traded company that is a thermal coal company, the State Treasurer shall give notice to the company that the State Treasury will withdraw moneys in subject investment funds that are invested in the company as described in ORS 293.799 for as long as the company is a thermal coal company. (3) The State Treasurer may use the current Urgewald Global Coal Exit List to identify thermal coal companies for purposes of ORS 293.798 to 293.803. (4)(a) The State Treasurer may retain an investment in a thermal coal company if the company demonstrates that it is transitioning to clean energy on a reasonable timeline. (b) The council may adopt rules to define a reasonable timeline for such a transition. The rules may reflect guidelines of the United Nations Intergovernmental Panel on Climate Change regarding necessary decreases in greenhouse gas emissions. (c) The State Treasurer shall monitor thermal coal companies transitioning to clean energy to ensure that the companies are on track to meet emissions reduction targets. (5) The State Treasurer may consult with managers of public employee pension funds in California and New York regarding thermal coal companies from which those funds have divested. [2024 c.79 §3] Note: See note under 293.798.