OR SB681

Prohibits the State Treasurer from making new or renewed investments in private market funds where managers intend to invest at least 10% of assets in fossil fuel companies (production, extraction, transmission, pipelines, terminals, or refining)

Requires the State Treasurer to monitor private market funds for compliance and ensure contracts with fund managers reflect these restrictions

Maintains fiduciary duties under ORS 293.721 and 293.726, requiring implementation without material contractual penalties and at comparable or better rates of return

Mandates annual reports to the Legislature by January 15 on actions taken, efforts to reduce systemic climate risk, and incorporation of "just transition" principles protecting workers and vulnerable communities

Sunsets on January 2, 2031, creating a five-year moratorium period