PESP reaction to Oregon Treasury’s proposed Net Zero plan

The Private Equity Stakeholder Project (PESP) supports the Oregon Treasury's proposed Net Zero plan for the Oregon Public Employees' Retirement Fund (OPERF), which aims for Net Zero by 2050 and a 60% reduction in emissions intensity by 2035. PESP highlights that Real Assets and Private Equity accounted for 46% of OPERF's emissions at the end of 2022 despite representing only 35% of assets. While praising the plan's exclusion of new commitments to fossil fuel focused private funds and its use of science-based metrics, PESP calls for accelerated timelines, clearer guidance for managers, and specific action regarding the Rio Grande LNG terminal project involving Global Infrastructure Partners.

• The Oregon Treasury's proposed Net Zero plan for the OPERF portfolio targets Net Zero by 2050 and aims to reduce emissions intensity by 60% by 2035.
• Private market investments are disproportionately responsible for the portfolio's emissions; as of the end of 2022, Real Assets and Private Equity represented 35% of OPERF’s assets but accounted for 46% of its emissions.
• The proposed plan includes several key initiatives to mitigate climate risk, such as excluding new commitments to fossil fuel focused private funds, using a $97 billion investor position to push for transition plans, and establishing a Beneficiary Advisory Committee.
• PESP identifies the Rio Grande LNG terminal as a specific risk to the OIC, noting that OIC invested $350 million into Global Infrastructure Partners’ Fund V, which holds a minimum 46% ownership stake in the project via a $3.5 billion investment.

APA

Private Equity Stakeholder Project (2024). PESP reaction to Oregon Treasury’s proposed Net Zero plan. https://pestakeholder.org/news/pesp-reaction-to-oregon-treasurys-proposed-net-zero-plan/

Chicago

Private Equity Stakeholder Project. PESP reaction to Oregon Treasury’s proposed Net Zero plan. 2024. https://pestakeholder.org/news/pesp-reaction-to-oregon-treasurys-proposed-net-zero-plan/.

Wikipedia

{{cite press release |author=Private Equity Stakeholder Project |title=PESP reaction to Oregon Treasury’s proposed Net Zero plan |date=7 February 2024 |url=https://pestakeholder.org/news/pesp-reaction-to-oregon-treasurys-proposed-net-zero-plan/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{privateequitystakeholderproject2024pesp, author = {{Private Equity Stakeholder Project}}, title = {{PESP reaction to Oregon Treasury’s proposed Net Zero plan}}, publisher = {Private Equity Stakeholder Project}, year = {2024}, month = feb, url = {https://pestakeholder.org/news/pesp-reaction-to-oregon-treasurys-proposed-net-zero-plan/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }