HR 7625 United States House · 118th Congress

RESPOND Act of 2024

This bill establishes a Federal Advisory Panel to analyze climate change risks to federal retirement investments and advise on transitioning toward low-carbon portfolios. It directly affects the Federal Retirement Thrift Investment Board (which manages retirement funds for over 5 million federal employees) by requiring the panel to assess fossil fuel investments, examine other pension funds' climate strategies, and produce a report within one year. Key mechanisms include creating a new "Climate Choice Stock Index Fund" that excludes fossil fuel companies (if the Board determines fossil fuel investments aren't financially sound), and mandating annual climate cost reports from the Federal Reserve and SEC. The bill focuses on aligning retirement fund investments with climate risk management while maintaining financial responsibility, without mandating immediate divestment.

Issues: ✓ Energy ✓ Environment

Sub-Topics: Climate Change

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2024

Committee Review

Floor Vote

President

Introduced Mar 12, 2024 Last action Mar 12, 2024

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Committee

Mar 12, 2024

Committee

Referred to the Committee on Oversight and Accountability, and in addition to the Committee on Financial Services, 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.

lower

Mar 12, 2024

Introduced

Introduced in House

lower

1 primary · 19 co-sponsors