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Supreme Court strikes down most of Trump's tariffs in a major blow to the president; AL nursing apprenticeships help close gaps in profession; The future of construction: University of Washington's living structures; Shining the spotlight on caregivers in Michigan and the nation.

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President Trump gives Iran a timeline on diplomacy amid stalled nuclear talks. Americans feel the pinch of higher prices, despite Trump's assertion that tariffs are working as expected and a former DHS official says enforcement is off the rails.

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An Illinois university is trying to fill gaps in the nationwide pharmacy shortage, Alabama plans to address its high infant mortality rate using robots in maternal care and neighbors helping neighbors is behind a successful New England weatherization program.

New bill would pause Oregon state retirement fund's fossil fuel investments

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Tuesday, January 14, 2025   

A new bill aims to further reduce investments in fossil fuels by Oregon's Public Employee Retirement System.

The Pause Act would impose a five-year ban on new investments by the system in private fossil-fuel funds. Supporters believe this move will help lower emissions and keep wealth in Oregon communities.

Andrew Bogrand, volunteer communications director for the advocacy group Divest Oregon, helped draft the bill. The group found the system's fossil fuel investments have underperformed the market by $4 billion to $10 billion over the past decade.

"Private equity has taken advantage, in our view, of public pensions, and this would allow Treasury staff the time and space they need to kind of course correct," Bogrand explained.

Last year, former treasurer Tobias Read, now Secretary of State, introduced a plan to reduce the system's investments in fossil fuels by 60% by 2035, aiming for net-zero emissions by 2050. Bogrand noted the Pause Act aligns with that plan.

Oregon's Public Employee Retirement System covers pensions for more than 415,000 public employees across schools, local governments and 900 agencies. Divest Oregon said 60% of the system's funds are private investments, which is almost double the average U.S. pension fund.

Elizabeth Steiner, Oregon's newly-sworn in treasurer, manages the system's investments, totaling more than $100 billion. Steiner said moving away from fossil fuels is not just about reducing emissions, it is smart financially.

"The data are really clear that carbon-intensive investments are a risky proposition at this point," Steiner observed. "At some point in the not too distant future, they will not be profitable."

Steiner added it is too soon to say if she can support the Pause Act, but she is having productive conversations with Divest Oregon.


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