# 119-sres-557: A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies.

119-sres-557, A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies., is a 119th Congress bill sponsored by Sen. Whitehouse, Sheldon [D-RI] (D-RI); status introduced (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-sres-557
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-sres-557
- Congress: 119
- Title: A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies.
- Status: introduced
- Introduced: 2025-12-17
- Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D-RI)
- Cosponsors: 8
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2026-04-21

## 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. - 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.

## Cosponsors (8)

- Sen. Merkley, Jeff [D-OR] (D-OR), 2025-12-17T00:00:00.000Z
- Sen. Schatz, Brian [D-HI] (D-HI), 2025-12-17T00:00:00.000Z
- Sen. Markey, Edward J. [D-MA] (D-MA), 2025-12-17T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-12-17T00:00:00.000Z
- Sen. Duckworth, Tammy [D-IL] (D-IL), 2025-12-17T00:00:00.000Z
- Sen. Padilla, Alex [D-CA] (D-CA), 2025-12-17T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2025-12-17T00:00:00.000Z
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2025-12-17T00:00:00.000Z

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act

## Sources
- [119-sres-557 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-resolution/557)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-sres-557 (as of 2026-04-21).