# 119-hr-2823: Climate Change Financial Risk Act of 2025

119-hr-2823, Climate Change Financial Risk Act of 2025, is a 119th Congress bill sponsored by Rep. Casten, Sean [D-IL-6] (D-IL); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-2823
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2823
- Congress: 119
- Title: Climate Change Financial Risk Act of 2025
- Status: introduced
- Introduced: 2025-04-10
- Sponsor: Rep. Casten, Sean [D-IL-6] (D-IL)
- Cosponsors: 10
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Would require the Federal Reserve to lead coordinated climate-related financial risk scenario development and biennial stress tests.** It would create new technical and supervisory tools so regulators and firms can assess and plan for physical and transition risks across the financial system.

## Cosponsors (10)

- Rep. Lynch, Stephen F. [D-MA-8] (D-MA), 2025-04-29T00:00:00.000Z
- Rep. Cleaver, Emanuel [D-MO-5] (D-MO), 2025-04-29T00:00:00.000Z
- Rep. Huffman, Jared [D-CA-2] (D-CA), 2025-04-29T00:00:00.000Z
- Rep. Mullin, Kevin [D-CA-15] (D-CA), 2025-04-29T00:00:00.000Z
- Rep. Elfreth, Sarah [D-MD-3] (D-MD), 2025-04-29T00:00:00.000Z
- Rep. Carbajal, Salud O. [D-CA-24] (D-CA), 2025-04-29T00:00:00.000Z
- Rep. Levin, Mike [D-CA-49] (D-CA), 2025-06-03T00:00:00.000Z
- Rep. Carson, André [D-IN-7] (D-IN), 2025-04-29T00:00:00.000Z
- Rep. Magaziner, Seth [D-RI-2] (D-RI), 2025-05-19T00:00:00.000Z
- Rep. Green, Al [D-TX-9] (D-TX), 2026-02-24T00:00:00.000Z

## Provisions PRIA read

- Fed would build climate risk scenarios: benefit, high. Within 1 year of enactment, the Federal Reserve would create three climate risk scenarios. One would assume 1.5°C warming, one 2°C, and one reflects likely warming under current national policies. A 10-member unpaid expert group—five climate scientists and five economists—would help build and revie…
- Regular climate tests for biggest firms: mixed, high. Every two years, the Federal Reserve would test each covered entity to see if it has enough capital under each climate scenario. After the first test, firms would need a climate risk resolution plan with a capital policy and clear targets to fix weaknesses. The Fed could object to a plan that would…
- Which big firms face climate checks: mixed, high. If enacted, this would set who counts as a covered entity and who gets surveyed. Firms with $250 billion or more in assets would be covered automatically. Firms with $100 billion or more could be covered if the Federal Reserve decides it is needed based on risk factors. Supervised firms with $10 bi…
- Climate risk surveys for large institutions: mixed, medium. Within 1 year after the first analysis finishes, the Fed would survey each surveyed entity on climate risks. An initial public report would come within 18 months, without naming any firm. The Fed would repeat the survey within 2 years of that report and then every two years, with each new report du…

## Related bills

- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-7853: PrEP Access and Coverage Act of 2026
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025
- 119-hr-5390: FAMILY Act

## Sources
- [119-hr-2823 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2823)

## Related
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-7853: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-hr-7853)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [119-hr-5390: FAMILY Act](https://policyrisk.com/legislation/119-hr-5390)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2823 (as of 2026-04-21).