PRIA Logo™
119-sres-557119th Congress

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

Sponsored By: Senator Whitehouse, Sheldon [D-RI]

Introduced

Summary

Climate change threatens global financial stability. This Senate resolution would recognize that unchecked climate change could trigger a cascade of market collapses and major economic losses around the world. It highlights rising extreme weather losses, insurance failures, and warnings from banks and global financial regulators.

Show full summary
  • Families and homeowners: insurance is becoming unaffordable or unavailable, which could destabilize mortgages and property markets and might cause a $25 trillion decline in global residential property values.
  • Workers and the broader economy: the resolution notes U.S. losses from extreme weather were $165 billion in 2022 and cites modelers projecting up to $178 trillion in global costs (net present value, 2021–2070); worldwide per-capita GDP could fall 10–20% within three decades if unchecked.
  • Financial system risk and policy: national banks and the Financial Stability Board warn of structural risk to the global financial system; financial experts and banks say an early, orderly transition to a low-carbon economy would avoid costly, disorderly shocks.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Whitehouse, Sheldon [D-RI]

RI • D

Cosponsors

  • Sen. Merkley, Jeff [D-OR]

    OR • D

    Sponsored 12/17/2025

  • Sen. Schatz, Brian [D-HI]

    HI • D

    Sponsored 12/17/2025

  • Sen. Markey, Edward J. [D-MA]

    MA • D

    Sponsored 12/17/2025

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 12/17/2025

  • Sen. Duckworth, Tammy [D-IL]

    IL • D

    Sponsored 12/17/2025

  • Sen. Padilla, Alex [D-CA]

    CA • D

    Sponsored 12/17/2025

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 12/17/2025

  • Sen. Blunt Rochester, Lisa [D-DE]

    DE • D

    Sponsored 12/17/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation