Addressing Climate Financial Risk Act of 2021
- Last Action
- 3/4/2021
Actions
- 2021-03-04Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2021-03-04Introduced in Senate
CRS Summary
As of 2021-03-04 (00)
Addressing Climate Financial Risk Act of 2021
This bill establishes the Climate Risk Advisory Committee that must consult with the Financial Stability Oversight Council of the Department of the Treasury regarding a report on the impact of climate risk on U.S. financial stability.
Additionally, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration must include climate risk in the guidance provided to a supervised financial institution.
Cosponsors (6)
- Catherine Cortez Masto (D-NV)
- Alex Padilla (D-CA)
- Brian Schatz (D-HI)
- Elizabeth Warren (D-MA)
- Martin Heinrich (D-NM)
- Jeff Merkley (D-OR)
Subjects
- Advisory bodies
- Air quality
- Banking and financial institutions regulation
- Climate change and greenhouse gases
- Congressional oversight
- Executive agency funding and structure
- Financial Stability Oversight Council
- Financial crises and stabilization
- Financial services and investments
- Insurance industry and regulation
- Intergovernmental relations
- International organizations and cooperation
- Life, casualty, property insurance
- State and local government operations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.