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Climate Change Cost Reports and New Pension Options

This act aims to better understand the economic impacts of climate change by requiring government agencies to produce annual reports. Additionally, it introduces the possibility of creating new retirement funds for federal employees that avoid investments in fossil fuel-related companies, while promoting clean energy investments.
Key points
Annual Climate Change Cost Reports: Financial agencies will annually inform Congress about the economic costs of climate change, including impacts on the labor market, public health, and property damage.
New Federal Pension Investment Option: Federal employees may gain the option to invest their retirement savings in a fund that avoids fossil fuel-related companies, focusing on clean energy.
Investment Advisory Panel: An advisory panel will be established to help manage retirement funds in line with climate goals and seek investment opportunities in green technologies.
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Additional Information
Print number: 117_S_606
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2021-03-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RESPOND Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_606.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-04.

What are the main provisions?

Key points include:

  • Annual Climate Change Cost Reports: Financial agencies will annually inform Congress about the economic costs of climate change, including impacts on the labor market, public health, and property damage.
  • New Federal Pension Investment Option: Federal employees may gain the option to invest their retirement savings in a fund that avoids fossil fuel-related companies, focusing on clean energy.
  • Investment Advisory Panel: An advisory panel will be established to help manage retirement funds in line with climate goals and seek investment opportunities in green technologies.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Merkley, Jeff [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Environment Economy Benefits