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

Senate Resolution

S.Res. 557

119th Congress

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

In Committee

Introduced:Dec 17, 2025

Primary Sponsor

Sheldon Whitehouse

D - RI

Cosponsors

8

Quick Stats

Summary

This Senate resolution warns that unchecked climate change could trigger a cascade of financial market collapses, potentially costing the global economy $178 trillion from 2021-2070. It cites projections of $25 trillion decline in global residential property values and warns that climate-driven insurance failures could destabilize mortgage and property markets.

Latest Action

Referred to the Committee on Banking, Housing, and Urban Affairs.

AI Summary

Plain-English explanation of this bill

This Senate resolution warns that unchecked climate change could trigger a cascade of financial market collapses, potentially costing the global economy $178 trillion from 2021-2070. It cites projections of $25 trillion decline in global residential property values and warns that climate-driven insurance failures could destabilize mortgage and property markets.

Last updated: 12/26/2025

Key Points

Main provisions of the bill

Climate change could cost global economy $178 trillion from 2021-2070
Predicts potential $25 trillion decline in global residential property values
U.S. losses from extreme weather events totaled $165 billion in 2022 alone
Financial Stability Board warns of structural risk to global financial system
Warns that per capita GDP could decline 10-20% within 3 decades
Calls for early, orderly transition to low carbon economy to avoid disorderly shocks

How This Impacts Americans

Potential effects on citizens and communities

This resolution affects financial regulators, banks, insurers, mortgage lenders, and property owners in climate-vulnerable areas. It signals to the Federal Reserve, SEC, and Treasury that Congress recognizes systemic climate-related financial risks. Insurance companies and their regulators are implicitly warned about inadequate pricing of climate risk. It supports calls for climate stress testing of financial institutions and disclosure requirements.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

557, 119th Congress (2025). "A resolution recognizing that climate change portends a cascade of financial market collapses that would destabilize the national and global economies.". Source: Voter's Right Platform. https://votersright.org/bills/119-sres-557