Despite Oregon’s goal to decarbonize by 2040, our state treasury continues to invest in fossil fuel companies that are wrecking our environment and destroying our future. It is critical that Salem supports the Treasury Investment & Climate Protection Act (TICPA – House Bill 2601) in 2023.
In my role as a policy advocate at Ecumenical Ministries of Oregon, I promote bills that advance our state’s response to the climate crisis and those impacted by it. I serve in partnership with Divest Oregon, the TICPA’s lead coalition.
As an environmentalist and proud Pacific Northwesterner, it shocked me to learn that Oregon’s treasury financially supports large fossil fuel companies. If passed, this act would require the treasury to stop investing in fossil fuels.
Worldwide efforts to decarbonize are shifting money toward clean energy and away from fossil fuel companies’ risky business. It is not just concern for our planet I am considering when I say the treasury must phase out fossil fuel investments — it is also financial concern. Divest Oregon’s “Risky Business” report shows that we could have saved $4-10 billion dollars if the treasury had invested in fossil-free indexes over the past decade.
If you are an Oregon public employee, it is highly likely this legislation could impact your future retirement fund.
The Treasury Investment & Climate Protection Act is a necessary tool that will guide us on a financially responsible path toward a fossil-free future. Encourage your state representative to support it.
Julia Weinand, Portland
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