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S 3922 United States Senate · 118th Congress

RESPOND Act of 2024

The RESPOND Act of 2024 requires the Federal Reserve and Securities and Exchange Commission to annually report on climate change's economic costs, including impacts on labor, property, and disaster relief. It establishes an advisory panel to help the Federal Retirement Thrift Investment Board (which manages federal employee retirement funds) evaluate climate risks in investment decisions. The panel must examine fossil fuel divestment, clean energy opportunities, and climate-related financial risks, then submit a report within one year. If the Board determines low-carbon investment strategies would not be financially sound or cannot make that determination, the bill mandates creating a new investment fund that avoids fossil fuel companies.
Issues: ✓ EnergySupports EnergyMentions clean energy opportunities and fossil fuel divestment, indicating support for renewable energy transition and climate risk integration in investments.85% confidence ✓ EnvironmentSupports EnvironmentRequires climate risk reporting and promotes clean energy investment via advisory panel, aligning with environmental protection goals.90% confidence
Sub-Topics: Renewable Energy Climate Change Natural Disasters
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
1
Mar 12, 2024
Senate · Referred to committee
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Mar 12, 2024
Senate · Introduced
Introduced in Senate
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
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P
Photo of Jeff Merkley
Jeff Merkley
DDemocratic
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n/a