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Bill Detail: HB19-1270

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Title PERA Public Employees' Retirement Association Board Assess Climate-related Financial Risks
Status House Committee on Finance Postpone Indefinitely (04/08/2019)
Bill Subjects
  • State Government
House Sponsors C. Hansen (D)
E. Sirota (D)
Senate Sponsors
House Committee Finance
Senate Committee
Date Introduced 03/25/2019
Description

The bill requires the board of trustees (board) of the public
employees' retirement association (PERA) to retain an organization with

experience in public sector pension plans to conduct a study to analyze
any climate-related financial risk to the total assets of PERA (fund). The
board is required to administer a competitive selection process to solicit
unbiased and independent third-party organizations with the necessary
credentials to bid for the study and to enter into a contract with the
selected organization.
The organization selected by the board is required to include the
following in its study:
  • A comprehensive analysis of the climate-related financial
risk of PERA's portfolio and the exposure of the fund to
long-term risks;
  • A summary of climate-related financial risk-related
engagement activities undertaken; and
  • A description of additional action that should be taken, or
planned to be taken, by the board to address climate-related
financial risk, including a list of proxy votes and
shareholder proposals initiated by the board.
The board is required to deliver a report to the general assembly
detailing the findings of the organization's analysis.

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