Blue Room Press Conference Wednesday: Guzzardi, Johnson to Discuss Need to Disinvest Public Pension Funds from Fossil Fuel Holdings

SPRINGFIELD, Ill. – State Rep. Will Guzzardi, D-Chicago, and state Sen. Adriane Johnson, D-Waukegan, will announce the Fossil Fuel Disinvestment Act at a press conference in the Blue Room on Wednesday, Jan. 29 at 9:30 a.m., highlighting the need to combat climate change and secure Illinois’ pension system.

“Combatting climate change is critical for our state and communities’ long-term health and competitiveness on the world stage; continuing to prop up failing fossil fuel holdings creates more instability for pension earners and contradicts that very goal. To continue being a leader on climate change, Illinois needs to work at all levels and across all sectors to make sure our money is where our values are, and they are not aligned with pollutant and destructive industries.”

Guzzardi’s proposed Fossil Fuel Divestment Act (Senate Bill 130) will halt further investment in fossil fuels and require the State’s pensions to divest current holdings over five years. Eliminating the contradiction Illinois’ environmental objectives under the Climate and Equitable Jobs Act (CEJA) and current, underperforming holdings in key fossil fuel industries, the Act is ultimately aimed at stabilizing pension funds against global clean energy trends.

“The Fossil Fuel Divestment Act is a forward-thinking approach that not only protects our pension funds but also aligns with the Climate and Equitable Jobs Act’s bold vision for combating the climate crisis. Illinois is leading by example, proving that economic responsibility and climate action can go hand in hand.”

For more information, please visit ilga.gov.

Who: State Rep. Will Guzzardi, state Sen. Adriane Johnson, Climate Safe Pensions Illinois
What: Fossil Fuel Disinvestment Act Introduction and Q&A
When: Wednesday, Jan 29; 9:30 a.m.
Where: Capitol Blue Room