Illinois SB0130 mandates divestment of fossil fuel investments by state pension systems.
SB0130, also known as the Fossil Fuel Divestment Act, requires Illinois pension systems to divest from fossil fuel companies and infrastructure. Pension systems must update their investment policies to prohibit new investments in fossil fuel companies and divest existing holdings by January 1, 2030. Pension systems must also ensure indirect investments do not exceed 2% fossil fuel exposure. The bill mandates annual reporting on climate-related financial risks, shareholder engagement, and divestment progress. The act aims to align with the Paris Climate Agreement and the Energy Transition Act.
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