Oregon is putting its workers' futures in the hands of clean energy.
In June, state lawmakers passed the Climate Resilience Investment Act, which directs the state's retirement fund to take investments out of fossil fuels and instead put that money toward green energy, KOIN reported.
The Oregon Public Employee Retirement Fund has about $101 billion in assets, approximately 3.7% of which are invested in dirty energy.
"Global markets are making the transition to cleaner sources of energy that reduce greenhouse gas emissions, provide cleaner air and water, and protect our communities," Oregon Treasurer Elizabeth Steiner said in a release. "The Climate Resilience Investment Act protects employee retirement funds by enabling Treasury's investments to take full advantage of the opportunities the clean energy transition creates."
The bill also requires the clean-energy investments to protect the retirement fund's long-term value and investment progress to be regularly reported back to lawmakers.
In the United States, green investments have taken a hit this year as inflation and interest rates have both risen, and as the Trump Administration has put more of a focus on fossil fuels.
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However, several financial analysts believe this is a good time to invest in renewable-energy stocks, as lower prices can present an opportunity, while the industry is poised for significant growth in the near and long term.
An International Energy Agency analysis forecasts that renewable sources will make up 20% of all energy consumption by 2030, up from 13% in 2023. Much of that increase is expected to come from electricity, where the renewable share is projected to reach 46% by 2030, up from 30% in 2023. Solar and wind energy are anticipated to be responsible for the majority of that growth.
For those looking for simple options to make their investments more eco-friendly, consider moving money to a bank that supports green projects or funding a green 401(k).
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