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H.R. 2823: Climate Change Financial Risk Act of 2025

119th Congress · introduced 2025-04-10 · Finance and Financial Sector · Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

What does this mean?

Official title

Climate Change Financial Risk Act of 2025

Plain summary

Climate Change Financial Risk Act of 2025 This bill addresses climate change risk and its potential impact on the financial system. The Federal Reserve Board must develop financial risk analyses relating to climate change for certain large nonbank financial companies and bank holding companies. Specifically, these entities must be evaluated every two years on whether they have the capital necessary to absorb financial losses that would arise under several different climate change risk scenarios. In response to the results of the evaluation, entities must develop and submit for approval a climate risk resolution plan. The plan must include a capital policy with respect to climate risk planning and targets to remedy identified vulnerabilities. If the plan is not approved, the entity’s ability to make capital distributions is restricted. The bill also establishes the Climate Risk Scenario Technical Development Group to provide recommendations to the board regarding climate change risk scenarios, and determine the financial and economic risks of these scenarios. The board must develop a survey to assess (1) the ability of other large financial institutions to withstand each scenario, (2) which surveyed entities have activities in geographical areas or industries that are significantly exposed to the impacts of climate change, and (3) how these surveyed entities plan to adapt to risks presented in each scenario.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Climate Change Financial Risk Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Casten, Sean [D-IL-6] · 10 cosponsors

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Words on this page, explained (2)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Resolution
A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr2823 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills