University of Illinois fossil fuel investments could be banned under proposed bill

SPRINGFIELD, Ill. (WAND) — A new bill could potentially ban all fossil fuel investments made by the University of Illinois.

State Rep. Will Guzzardi (D-Chicago) said he was contacted by a group of students to bring the bill for consideration.

The Democrat said the University planned back in 2020 to stop all investment and funding to fossil fuel companies by 2025.

"The university has been such a leader in clean technology, research and innovation that's going to drive the 21st century," Guzzardi said. "I think the university should put its money where its mouth is."

According to U of I's Illinois Climate Action Plan, less than 1% of the college's portfolio is invested in coal and mining companies.

Guzzardi said from the research that he's seen, divesting from fossil fuels is the best path for the university.

"The truth is this," Guzzardi said. "Investing in clean energy and divesting in fossil fuels it is a better performing way to steer your investments."

Lawmakers could talk about the bill when they return to Springfield later this month.

The University of Illinois has not responded to our request for comment at this time.