A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies.
About This Bill
Committee
Latest Action · December 17, 2025
Referred to the Committee on Banking, Housing, and Urban Affairs.
S. Res. 557 is a Senate resolution that recognizes climate change as a serious threat to the nation's and world's financial systems. The resolution does not create new laws or programs; instead, it formally acknowledges that extreme weather events driven by climate change—such as hurricanes, wildfires, and floods—are causing billions in damages and making insurance increasingly expensive or unavailable, which could destabilize property and mortgage markets. The resolution cites projections that unchecked climate change could cost the global economy $178 trillion over the next 50 years and could reduce global economic output per person by 10 to 20 percent within three decades. It notes that major banks and financial regulators already recognize climate change as a structural risk to the financial system. The resolution calls for an early transition to a low-carbon economy to avoid costly economic shocks, but as a resolution rather than legislation, it does not establish specific funding, mandates, or timelines for action.
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