HR 2443
Fossil Free Financing Act of 2023
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Fossil Free Financing Act of 2023 aims to reduce greenhouse gas emissions from the financial system by requiring large bank holding companies to develop and implement plans to eliminate financing of fossil fuel projects and deforestation risk commodities. It establishes targets for reducing financed emissions, including a goal of zero financed emissions by 2050, and directs the Federal Reserve and Financial Stability Oversight Council to monitor and regulate these emissions. The bill also seeks to ensure a just transition for workers and communities impacted by the shift away from fossil fuels.
Sponsors
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Primary sponsor
Cosponsors
Barbara Lee
Becca [D-VT-At Large] Balint
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