HB 4083: Oregon Requires Divestment from Thermal Coal Companies
Summary
HB 4083, also known as the COAL Act, was enacted in April 2024 and became effective on January 1, 2025. The law requires the Oregon Investment Council and state treasurer to divest from thermal coal companies. The treasurer may continue to invest in thermal coal companies that are transitioning to clean energy. The law recognized that "200 governments, banks, institutional investors and public pension funds"—including state investment funds in California and New York—"have divested from coal" and seen a positive impact to the fund.
The law defines a "thermal coal company" as a company that derives at least 20% of its annual revenue from thermal coal production, accounts for over 1% of global production of thermal coal, or contains over 0.3 gigatons of potential carbon dioxide emissions in reported coal reserves.
