Even if symbolic, Chicago fossil fuel divestment could send ‘powerful signal’

With the Trump administration expected to roll back federal climate policy, advocates are hoping states and cities will pick up the slack on reducing carbon emissions. Chicago is often touted as a leader on this front thanks to its solar, energy efficiency and other programs, along with the 2012 closure of two urban power plants and city officials’ action against petroleum coke storage. Now a majority of City Council members and the Chicago chapter of 350.org want the city to make a statement against the fossil fuel industry by pledging to divest the city’s pension funds and stocks and bonds. A divestment resolution was introduced in December, and backers are hoping it will be heard by the full council this spring. The measure would be largely symbolic, since a resolution is non-binding and the state government is in charge of pension investments.