Illinois HB3961 mandates divestment of fossil fuel investments by state pension systems by 2030, with further restrictions on indirect investments by.
HB3961, the Fossil Fuel Divestment Act, requires Illinois pension systems to divest from fossil fuel holdings by January 1, 2030. It prohibits further direct investments in fossil fuel companies and restricts indirect investments to those with less than 2% fossil fuel assets. Pension systems must report their divestment plans, climate-related financial risks, and shareholder engagement activities. The act aims to mitigate climate change risks and align investments with the Paris Climate Agreement and Illinois' energy transition goals.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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