Divest Oregon Update
ACTION NEEDED! Contact your Oregon Legislators TODAY
ACTION NEEDED! Share and Add your Name to the Right to Know Campaign
A new email and social media campaign is highlighting why PERS members should be shocked at how PERS may be invested and asks them to add their name to the Right to Know Campaign.
Your pension may be fueling climate change! $5.3 billion of PERS funds are invested in fossil fuels – and probably more! 60% of PERS funds are in secret investments. YOU have the right to know what investments they are. Add your name to the Right to Know campaign
To Divest Oregon organizational leaders, please share widely!
Some of what you’ll learn in the report:
- Over half of the almost $100 billion in the Oregon Public Retirement System (PERS), managed by the Oregon Treasury, is in private investments.
- Oregon Treasury is one of the largest private equity investors in the US.
- Oregon Treasury holds investments in the top 8 private equity firms that are heavily invested in coal, oil, and gas.
- Private equity firms market themselves as financial wizards that provide above-market returns to institutional investors such as the Oregon Treasury. Initially, the returns were excellent but that changed as more investors got into the private investment market.
- Many other state retirement funds show better average 10-year returns than Oregon’s with little or no private equity investments.
Will Santa Deliver to OIC Members?
At the December OIC meeting, Divest Oregon called out Treasury’s failure to act on climate risk to the OST portfolio — risk confirmed in their own 2021 Climate Risk Assessment.
Rick Pope checked in with Santa Claus, who interrupted his obsessing over the North Pole melting, to express concern that in the last OIC meeting consultants presented 124 slides and said they ran 10,000 simulations in an asset/liability assessment — with zero consideration of the climate risks to the OST portfolio!
Rick pointed out the the Treasurer’s November press release expressed his firm intent to act vaguely at some point.
Rick told the OIC members: If you do stockings, don’t expect candy canes…
REMINDER: Monthly Divest Oregon Coalition Meeting next Wednesday 12/21 at 2pm. Updates, next steps, and more! Zoom Link