Liberal Oregon resists dropping controversial investments

Oregon residents are increasingly pushing for the state to divest from fossil fuel companies and other controversial investments, but the state treasury is resisting

SALEM, Ore. -- Oregon residents are increasingly pushing for the state to divest from fossil fuel companies and other controversial investments, but the state treasury is resisting and putting the onus on the Legislature.

In addition to fossil fuel companies whose products are a main driver of global warming, the state employee retirement fund is also invested in a company whose spyware was used against human rights workers, journalists and other targets, and in companies that operate private prisons where detained immigrants were mistreated and some died.

Even as some cities and other states such as New York have begun divesting, Oregon, a predominantly liberal state, clings to the status quo. The disparate approaches underscore that managers of public funds are often torn between ethical considerations, legal imperatives and obligations to beneficiaries.

The Oregon State Treasury oversees some $118 billion in investments, including an undisclosed amount in fossil fuel companies and other controversial sectors. Oregon State Treasurer Tobias Read wouldn't be pinned down on the amount, despite repeated direct questions by Oregon Public Radio.