Trillium Commends Oregon Legislature for its Groundbreaking Rejection of Coal
March 8, 2015: At Trillium, we believe that climate change is the defining investment issue of our time. We also believe it provides one of the greatest economic opportunities of the 21st century.
Last week, the Oregon legislature passed Senate Bill 1547, which will phase out coal-powered energy generation use in the state and require utilities to meet half of customer demand with renewable energy by 2040. This means that by 2040, 50% of Oregon’s power will come from renewable resources such as wind and solar.
When signed into law, the bill – the first major statewide climate policy after the Paris Agreement – would make Oregon the first state to cut ties with coal-fired power plants. Coal-powered electricity plants are the world’s largest contributor to climate change. The lack of national climate policy makes state leadership from places like Oregon critical to scaling up climate change solutions.
The bill, which follows an agreement between Pacific Power and Portland General Electric – along with clean energy advocates, now heads to Governor Kate Brown for her signature.
The frequency and severity of extreme weather systems continues to impact the lives of people globally and increasingly in our own communities. Climate change is no longer solely a threat to future generations. The damage to homes, livelihoods, and lives is happening today.
In February, Trillium, which has an office in Portland, Oregon, strongly urged the Oregon legislature to pass SB 1547 in an Op-Ed which was published by Sustainable Business Oregon. We commend the Oregon legislature for the decisive leadership they have shown on this critical issue.
For more information: Randy Rice, Trillium Asset Management, email@example.com, 617-515-6889.
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