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Protecting Financial Stability and Insurance Markets from Climate Change Risks

This act aims to protect citizens' savings and insurance policies by better monitoring financial threats caused by climate change. It creates expert committees to study how weather events affect bank stability and the availability of home insurance.
Key points
Creation of specialized committees to track climate-related financial risks in the financial system.
Detailed reports on home insurance costs, availability, and cancellations by zip code.
Large banks (over $50 billion in assets) must update their plans to handle climate-driven financial losses.
Exclusion of oil and gas industry representatives from the climate risk advisory board.
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Status: Introduced
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Additional Information
Print number: 119_S_3711
Sponsor: Sen. Smith, Tina [D-MN]
Process start date: 2026-01-28
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Addressing Climate Financial Risk Act of 2026

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3711.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2026-01-28.

What are the main provisions?

Key points include:

  • Creation of specialized committees to track climate-related financial risks in the financial system.
  • Detailed reports on home insurance costs, availability, and cancellations by zip code.
  • Large banks (over $50 billion in assets) must update their plans to handle climate-driven financial losses.
  • Exclusion of oil and gas industry representatives from the climate risk advisory board.
What is the specific legal status?

The current status is Introduced.

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. Smith, Tina [D-MN].

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 2026-02-19.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Environment Economy