IL HB3062

Requires every Illinois pension fund (except Downstate Police and Downstate Firefighter funds) to develop a climate change risk minimization policy by December 31, 2022.

Policy must assess financial risks to pension fund investments from different climate change scenarios using data from insurance companies, UN Framework Convention on Climate Change, and EPA projections.

Policy must address scope and financial impact of climate-related events including severe drought, coastal flooding, and intense hurricanes on pension fund holdings.

Permits pension funds to establish voting policies for corporate equities on shareholder resolutions and director elections to advance climate risk reduction measures, including supporting carbon emission reduction commitments.

Requires annual policy updates and publication on pension fund websites, with previous versions retained for 5 years; mandates implementation without state reimbursement.