Oregon Gov. Tina Kotek (D) signed the Climate Resilience Investment Act on June 26, directing the state’s $96 billion Public Employees Retirement System to study the effects of its investments on climate change and to “pursue the goal of reducing the carbon intensity of the fund.”

The law is among the first to directly require ESG investments in a pension system. Other large pensions like CalPERS, CalSTRS, and the New York City pension system have promised to use what they call sustainable investing standards but aren’t bound to such commitments under the law.

To see other laws requiring nonfinancial considerations in investing, proxy voting, and disclosures in Ballotpedia’s ESG legislation tracker, click here.

Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click here. For more information on reform proposals related to ESG policy, click here.