Congress·In Committee·S. 3711

Addressing Climate Financial Risk Act of 2026

Senate Bill Would Force Large Banks to Plan for Climate Financial Risks

Jan 28·View on Congress.gov·Read full text

Part of: Federal Bills Seek Climate Risk Data from Large Banks and Insurers

Next up: A senate committee

A senate committee must act next: committee consideration.

Legislative Progress

Senate

House

President

Law

Key Points

This bill creates two new groups to help the government watch for financial dangers caused by climate change. One group would be made of government experts, and the other would include outside scientists and economists to advise on how weather disasters or changing energy needs might hurt the economy.
Large banks with more than $50 billion in assets would have to follow new rules. They would need to show they are identifying and planning for risks like property damage from storms or shifts in the market as the world moves away from fossil fuels.
The government would start collecting more detailed data on homeowners insurance. This includes looking at why some people are seeing higher prices or losing their coverage in certain areas, helping officials understand if the insurance market is becoming unstable.
The bill requires regular reports to Congress about how climate change could affect the nation's financial stability. It also encourages U.S. agencies to work with other countries to set common standards for handling these global risks.

Economy FinanceEnergy EnvironmentHousing

Impact Analysis

Personal Impact

Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works

Financial institutions with over $50 billion in assets would need to incorporate climate risk into their lending decisions, which could make it harder or more expensive for small businesses in climate-vulnerable areas to get loans. On the other hand, better risk management in the financial system could protect small businesses from sudden credit crunches caused by climate-related financial instability.

ImpactCertaintyScopeDurationSentiment

Milestones

2 milestones2 actions

Jan 28, 2026Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

Jan 28, 2026

Introduced in Senate

The bill was officially filed and given a number. It now enters the legislative queue.

Related News

2 articles

Westlaw Today·Feb 5

FINANCIAL STABILITY—CASTEN, SMITH INTRODUCE BILL TO MITIGATE CLIMATE RISK IN US FINANCIAL SYSTEM

Representative Sean Casten and Senator Tina Smith introduced the Addressing Climate Financial Risk Act of 2026 to strengthen federal regulators' ability to assess and mitigate climate-related threats to the U.S. financial system, including new rules for large banks and insurance data collection.

Center

Ballotpedia News·Feb 25

New York Senate passes $1 billion emissions reporting bill

The article notes that while states like New York and California move forward with climate disclosures, federal lawmakers have introduced the Addressing Climate Financial Risk Act of 2026 to standardize how large financial institutions and insurance markets handle climate-related economic threats.

Center

No votes recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Addressing Climate Financial Risk Act of 2026

Bill NumberS 3711

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(5)

D: 5

Analysis generated by AI. Always verify with official sources.