SPRINGFIELD – To advance environmental standards and promote greener energy, State Senator Adriane Johnson joined colleagues Wednesday to support the Fossil Fuel Divestment Act, which would prohibit Illinois’ major retirement systems from making new investments in fossil fuel companies.

“By aligning our investments with the goals of the Climate and Equitable Jobs Act, Illinois is making a clear commitment to protecting our workers, communities and environment from the growing climate crisis,” said Johnson (D-Buffalo Grove). “The Fossil Fuel Divestment Act reflects our responsibility to both retirees and future generations.”

The initiative, Senate Bill 130, would require Illinois' five state-funded retirement systems — State Employees’ Retirement System (SERS), State Universities Retirement System (SURS), Teachers’ Retirement System (TRS), Judges’ Retirement System (JRS) and General Assembly Retirement System (GARS) — to reduce their investments in fossil fuel companies by prohibiting direct investments of additional pension assets in the stocks of any fossil fuel company. Additionally, any future indirect investments must not have more than 2% of assets invested in a fossil fuel company. The bill mandates full divestment of existing fossil fuel holdings by Jan. 1, 2030.

By prioritizing sustainable investments, this measure aligns Illinois’ financial strategies with its long-term environmental goals. Divesting from fossil fuels not only mitigates financial risks associated with a declining industry but also encourages a shift toward renewable energy and sustainability sectors, reinforcing the state’s commitment to achieving 100% renewable energy by 2050.

“The time to make changes for our future is now, and by divesting from fossil fuel we can bolster our green initiatives here in Illinois,” said State Senator Mike Simmons (D-Chicago). “This legislation is of generational consequence and importance, and with the magnitude of the dollars in our pension fund, the power of that money should be thought about when reducing our investment in fossil fuels.”

Senate Bill 130 waits to be assigned to a committee for consideration.