Fossil Free Finance Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.

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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D JonesSponsor

20 cosponsors · 20 D

15 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

What it does: CRS summary · Introduced in House · Sep 14, 2021

Fossil Free Finance Act

This bill requires large bank holding companies to develop and implement emission reduction plans. Such a plan must include strategies for a company to equitably reduce and eventually eliminate financed greenhouse gas emissions by January 1, 2050, and to discontinue specified fossil fuel projects and financing. The bill also prohibits the use of carbon offsets in such a plan, sets forth technological requirements for reductions, and requires the prioritization of specified social impacts.

Plans must be submitted to the Board of Governors of the Federal Reserve System for approval every two years.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Fossil Free Finance Act

Latest action (Sep 14, 2021): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 14, 2021

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.