Bill · S.Res. 557· Senate(119-SRES-557)

A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies.

Age: 71 years

Rhode Island

Introduced: 12/17/2025
Last activity: 12/17/2025 — Referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by: Sheldon Whitehouse
Cosponsors: - 8 - 0

Finance and Financial Sector

Introduced
In Committee

A Senate resolution is the Senate speaking for itself: stating a position, honouring someone, or setting its own rules. Adopting it is the whole process. Once the Senate agrees to it, it is officially the Senate's word; it is not a law, so the House and the President have no part in it.

What this bill would do

This resolution recognizes that climate change poses severe risks to national and global economies by driving financial market collapses. It points out that climate change causes extreme weather events, which led to $165,000,000,000 in United States losses in 2022. The text notes that extreme weather and wildfires make insurance unaffordable or unavailable, which can destabilize mortgage and property markets. Furthermore, unchecked climate change could cost the global economy $178,000,000,000,000 in net present value from 2021 to 2070. Financial experts and banks agree that an early and orderly transition to a low carbon economy will avoid costly shocks. Ultimately, the Senate resolves to recognize that unchecked climate change poses severe risks to economies.

Yes

Does this cut the pollution that drives climate change?+5
Advocates for an early and orderly transition to a low-carbon economy to mitigate severe financial risks.
Does this better protect air, water and wildlife?+4
Brings formal awareness to the severe risks of unchecked climate change on national and global systems.
Is this likely to grow the economy?+3
Recognizes the economic necessity of transitioning to a low-carbon economy to avoid massive projected losses.