Climate Finance
Climate finance refers to the financial pressures created by climate‑driven weather events and how markets account for future climate risks. By leveraging climate finance frameworks, state governments can increase funding for climate resilience projects and strengthen overall economic stability.
Overview
Climate finance refers to the financial pressures created by worsening climate‑driven weather events and how markets account for future climate risks in their planning. State governments have tremendous economic power that can be a force for shaping financial market outcomes in the face of climate change. State policymakers also have a range of tools and policies available that can shield constituents from the economic threats of climate change. Sectors including pension management, insurance, state contracts, and corporate disclosures lie uniquely under state control and can influence the resilience of state governments to climate-related financial shocks.
By building out climate finance frameworks, states can better anticipate financial risks, increase funding for climate mitigation and resilience projects, and strengthen overall economic stability in the coming decades.
Key Facts
Green banks are mission-driven institutions that use innovative financing to accelerate the clean energy transition and fight climate change. For every dollar of public capital invested, green banks successfully mobilize $3 to $7 from private sources.
In 2024, a study found that rising insurance premiums reduced home values by about $20,500 in the top 25% of homes most exposed to catastrophic hurricanes and wildfires, and by $43,900 in the top 10%.
States that have restricted the ability of companies to analyze investments through an environmental, social, and governance (ESG) lens have lost out on millions of dollars in public investment.
Current Legislation
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| SB894: Wildfire resiliency: financial assistance.View Source | California | CA Sen. Benjamin "Ben" Allen (D-CA-024) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Passed Original Chamber |
| AB1964: State Fire Marshal: home hardening.View Source | California | CA Assemb. Steve Bennett (D-CA-038) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Passed Original Chamber |
| AB1934: State Fire Marshal: home hardening certification program implementation plan.View Source | California | CA Assemb. Steve Bennett (D-CA-038) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Passed Original Chamber |
| AB2038: Residential property insurance: cancellations and nonrenewals.View Source | California | CA Assemb. Rick Zbur (D-CA-051), CA Assemb. John Harabedian (D-CA-041) | Climate | Climate Finance | Insurance | Passed Original Chamber |
| SB4006: Climate Risk & Strengthen HomeView Source | Illinois | IL Sen. Julie Morrison (D-IL-029), IL Rep. Thaddeus Jones (D-IL-029) | Climate | Climate Finance | Insurance | Enacted |
| SB565: requiring the commissioner of the insurance department to prepare and publish a report regarding fortified home and commercial standards, and other mitigation and resiliency programs.View Source | New Hampshire | NH Sen. David Watters (D-NH-004) | Climate | Climate Finance | Insurance | Enacted |
| SB3150: An Act Relating To Insurance -- Weather-Related Losses (Provides A Framework Through Which The Department Of Business Regulation Can Seek Grants To Fund A Home Hardening Program.)View Source | Rhode Island | RI Sen. V. Susan "Sue" Sosnowski (D-RI-037) | Climate | Climate Adaptation , Climate Finance | Insurance | Effective |
| S.8583C: Requires property/casualty insurance companies to submit certain data to the department of financial services and authorizes premium discounts to policyholders who demonstrate certain mitigation actionsView Source | New York | NY Sen. Brian Kavanagh (D-NY-027) | Climate | Climate Finance | Insurance | Passed Original Chamber |
| SB26-155: Increase Access Homeowner's Insurance EnterpriseView Source | Colorado | CO Sen. Kyle Mullica (D-CO-024), CO Speaker Julie McCluskie (D-CO-013), CO Sen. Janice Marchman (D-CO-015), CO Rep. Kyle Brown (D-CO-012) | Climate | Climate Finance | Insurance | Effective |
| A.9016D: Requires property/casualty insurance companies to submit certain data to the department of financial services and authorizes premium discounts to policyholders who demonstrate certain mitigation actionsView Source | New York | NY Assemb. Emerita Torres (D-NY-085) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| SB0327: An act relating to economic developmentView Source | Vermont | Climate, Land, Energy | Climate Finance, Outdoor Engagement | Outdoor Governance and Economy, Green Banks | Effective | |
| S.B.0739: Climate Change, Homeowner's Insurance, and Emergency Management - StudyView Source | Maryland | MD Sen. Benjamin "Ben" Kramer (D-MD-019) | Climate | Climate Finance | Insurance | Effective |
| H.B.1219: Climate Change, Homeowner's Insurance, and Emergency Management - StudyView Source | Maryland | MD Del. David "Dave" Fraser-Hidalgo (D-MD-015) | Climate | Climate Finance | Insurance | Effective |
| SB225: Virginia Clean Energy Innovation Bank; created, report, membership.View Source | Virginia | VA Sen. Scott Surovell (D-VA-034) | Climate | Climate Finance | Green Banks | Effective |
| HB1444: Virginia Clean Energy Innovation Bank; created, report, membership.View Source | Virginia | VA Del. Alfonso Lopez (D-VA-003) | Climate | Climate Finance | Green Banks | Effective |
| SF4504: Omnibus Energy, Utilities, Environment, and Climate policy billView Source | Minnesota | MN Rep. Patty Acomb (D-MN-045B), MN Sen. Nick Frentz (D-MN-018) | Climate | Climate Finance | Green Banks | Passed Original Chamber |
| HB8219: An Act Relating To Insurance -- Rhode Island Insurance Market Protection Act (Regulates Property Insurers To Limit Underwriting And Investment In Fossil Fuel Projects, Requires Climate Risk Reporting And Emissions Disclosures, And Aligns Insurance Practices With Science-Based Climate Targets.)View Source | Rhode Island | RI Rep. Brandon Potter (D-RI-016), RI Rep. Anthony DeSimone (D-RI-005), RI Rep. Jennifer Boylan (D-RI-066), RI Rep. Arthur "Art" Handy (D-RI-018), RI Rep. Lauren Carson (D-RI-075), RI Rep. Michelle McGaw (D-RI-071), RI Rep. Jason Knight (D-RI-067), RI Rep. Justine Caldwell (D-RI-030), RI Rep. Terri "Terri-Denise" Cortvriend (D-RI-072), RI Rep. June Speakman (D-RI-068) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| AB1971: Property tax: exclusion from reassessment: home hardening retrofitting improvements.View Source | California | CA Assemb. Steve Bennett (D-CA-038) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| SB1076: Admitted insurers: residential property insurance.View Source | California | CA Sen. Sasha Perez (D-CA-025) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| SB0453: An Act Concerning a Climate Change Related Surcharge on Certain Insurance Policies.View Source | Connecticut | Climate | Climate Finance | Insurance | Out of Committee | |
| S.C.R.118: URGING THE INSURANCE DIVISION OF THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS TO CONVENE A WORKING GROUP TO IDENTIFY FEASIBLE OPTIONS AND MECHANISMS TO PROTECT THE STATE AND ITS RESIDENTS AGAINST THE EFFECTS OF CLIMATE CHANGE ON THE AVAILABILITY AND AFFORDABILITY OF INSURANCE.View Source | Hawaii | HI Sen. Jarrett Keohokalole (D-HI-024) | Climate | Climate Finance | Insurance | Enacted |
| S.9942: Establishes the climate protection insurance actView Source | New York | NY Sen. Jamaal Bailey (D-NY-036) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| S.B.0841: Utility RELIEF (Reducing Energy Load Inflation for Everyday Families) ActView Source | Maryland | MD Sen. Brian Feldman (D-MD-015) | Climate, Transportation, Energy | 100% Clean Energy and Zero Emissions Targets, Climate Finance | RPS, Green Banks | Passed Original Chamber |
| HB8144: An Act Relating To Capital Development Program -- 2026 Bond Referenda (Submits The State'S 2026 Capital Development Program Relating To Green Bonds Requesting The Issuance Of General Obligation Bonds Totaling $60,000,000 For Approval Of The Electorate At The General Election To Be Held In November, 2026.)View Source | Rhode Island | RI Rep. Arthur "Art" Handy (D-RI-018), RI Rep. Lauren Carson (D-RI-075), RI Rep. Michael "Mike" Chippendale (R-RI-040), RI Rep. Brian Kennedy (D-RI-038), RI Rep. June Speakman (D-RI-068), RI Rep. Megan Cotter (D-RI-039), RI Rep. Michelle McGaw (D-RI-071), RI Rep. Jennifer Boylan (D-RI-066), RI Rep. Tina Spears (D-RI-036), RI Rep. Marie Hopkins (R-RI-021) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| SB2409: Mississippi Department of Insurance; establish comprehensive mitigation program for retrofitting insurable homes.View Source | Mississippi | MS Sen. J. Walter "Walter" Michel (R-MS-025) | Climate | Climate Adaptation , Climate Finance | Insurance | Effective |
| HB70: Resilient Virginia Revolving Fund; projects in low-income geographic areas, nature-based solutions.View Source | Virginia | VA Del. Michael Feggans (D-VA-097) | Climate, Oceans | Climate Finance, Coastal Resilience, Just Transition | Green Banks, Low-income Access, Coastal Resilience | Effective |
| S.R.111: URGING THE INSURANCE DIVISION OF THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS AND DEPARTMENT OF THE ATTORNEY GENERAL TO CONVENE A WORKING GROUP TO IDENTIFY FEASIBLE OPTIONS AND MECHANISMS TO PROTECT THE STATE AND ITS RESIDENTS AGAINST THE EFFECTS OF CLIMATE CHANGE ON THE AVAILABILITY AND AFFORDABILITY OF INSURANCE.View Source | Hawaii | HI Sen. Jarrett Keohokalole (D-HI-024) | Climate | Climate Finance | Insurance | Enacted |
| H.R.137: URGING THE INSURANCE DIVISION OF THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS TO CONVENE A WORKING GROUP TO IDENTIFY FEASIBLE OPTIONS AND MECHANISMS TO PROTECT THE STATE AND ITS RESIDENTS AGAINST THE EFFECTS OF CLIMATE CHANGE ON THE AVAILABILITY AND AFFORDABILITY OF INSURANCE.View Source | Hawaii | HI Rep. Tina Grandinetti (D-HI-020) | Climate | Climate Finance | Insurance | Out of Committee |
| H.C.R.145: URGING THE INSURANCE DIVISION OF THE DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS TO CONVENE A WORKING GROUP TO IDENTIFY FEASIBLE OPTIONS AND MECHANISMS TO PROTECT THE STATE AND ITS RESIDENTS AGAINST THE EFFECTS OF CLIMATE CHANGE ON THE AVAILABILITY AND AFFORDABILITY OF INSURANCE.View Source | Hawaii | HI Rep. Tina Grandinetti (D-HI-020) | Climate | Climate Finance | Insurance | Out of Committee |
| HB1225: INSURANCE/PROPERTY: Provides with respect to residential property and catastrophic event modelingView Source | Louisiana | LA Rep. Dana Henry (D-LA-100) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| H.B. 3328: Establishes the Missouri Disaster Mediation Act and Missouri Stronger Homes Program relating to disastersView Source | Missouri | MO Rep. David Casteel (R-MO-097) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| HB5529: Climate Risk & Strengthen HomeView Source | Illinois | IL Rep. Thaddeus Jones (D-IL-029) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| SB2646: An Act Relating To Insurance -- Rhode Island Insurance Market Protection Act (Regulates Property Insurers To Limit Underwriting And Investment In Fossil Fuel Projects, Requires Climate Risk Reporting And Emissions Disclosures, And Aligns Insurance Practices With Science-Based Climate Targets.)View Source | Rhode Island | RI Sen. Dawn Euer (D-RI-013), RI Sen. Melissa Murray (D-RI-024), RI Sen. Meghan Kallman (D-RI-015), RI Sen. Tiara Mack (D-RI-006), RI Sen. Alana DiMario (D-RI-036), RI Sen. Samuel "Sam" Zurier (D-RI-003), RI Sen. Linda Ujifusa (D-RI-011), RI Sen. Victoria Gu (D-RI-038), RI Sen. Pamela "Pam" Lauria (D-RI-032) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| SB26-148: Financing Utility On-Bill Repayment ProgramView Source | Colorado | CO Sen. Kyle Mullica (D-CO-024), CO Sen. Matt Ball (D-CO-031), CO Rep. Sean Camacho (D-CO-006), CO Rep. Junie Joseph (D-CO-010) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| HB163: Property Insurance and Energy Reduction Act; allow financing of projects through private fundingView Source | Alabama | AL Rep. Troy Stubbs (R-AL-031) | Climate | Climate Finance | Green Banks | Effective |
| A.10604: Relates to enacting the "NYCHA HVAC repair act"View Source | New York | NY Assemb. Alicia Hyndman (D-NY-029) | Climate | Building Decarbonization, Climate Finance | Green Banks, Heat Pumps | Introduced or Prefiled |
| S.B.2950: RELATING TO INSURANCE.View Source | Hawaii | HI Sen. Angus "Mac" McKelvey (D-HI-006) | Climate | Climate Finance | Insurance | Passed Original Chamber |
| S2919: An Act addressing rising insurance costs for manufactured home residentsView Source | Massachusetts | Climate | Climate Finance | Insurance | Out of Committee | |
| A.4560: Creates Joint Blue Ribbon Task Force on Impacts of Climate Change on Property Insurance.View Source | New Jersey | NJ Assemb. Michael "Mike" Venezia (D-NJ-034), NJ Assemb. Sterley Stanley (D-NJ-018), NJ Assemb. Roy Freiman (D-NJ-016) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| HF4137: Rulemaking required to adopt standards based on the Insurance Institute for Business and Home Safety's 2025 FORTIFIED Roof High Wind Standard with Hail Supplement and tailored to the climate of Minnesota as part of the State Building Code.View Source | Minnesota | MN Rep. Steve Elkins (D-MN-050B) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| A.10509: Establishes an energy project revolving loan program and fundView Source | New York | NY Assemb. Anna Kelles (D-NY-125) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| HB1056: establishing a commission to study the impacts of reinsurance on the cost and availability of property insurance in New Hampshire.View Source | New Hampshire | NH Rep. Carry Spier (D-NH-New Hampshire House Hillsborough 06) | Climate | Climate Finance | Insurance | Out of Committee |
| SB2804: An Act Relating To Waters And Navigation -- Rhode Island Infrastructure Bank (Allows Local Government Recipients Of Grant Funds From The Rhode Island Infrastructure Bank'S Oscar Fund And Resilient Rhode Island Infrastructure Fund To Use Monies For Insurability Planning.)View Source | Rhode Island | RI Sen. Alana DiMario (D-RI-036), RI Sen. Victoria Gu (D-RI-038), RI Sen. Lori Urso (D-RI-008), RI Sen. Dawn Euer (D-RI-013), RI Sen. Bridget Valverde (D-RI-035), RI Sen. Meghan Kallman (D-RI-015) | Climate | Climate Adaptation , Climate Finance | Insurance | Introduced or Prefiled |
| SB1540: Requires an insurer that uses a catastrophe model or wildfire risk model or scoring method to provide the Director of the Department of Consumer and Business Services a description of each model or scoring method, along with related information, and an explanation of how the insurer uses the model or scoring method in underwriting decisions.View Source | Oregon | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Out of Committee | |
| AB1986: Residential property insurance: home hardening.View Source | California | CA Assemb. Steve Bennett (D-CA-038) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| CS/HB 767: Residential Property InsuranceView Source | Florida | FL Rep. Fabian Basabe (R-FL-106), FL Rep. Yvette Benarroch (R-FL-081) | Climate | Climate Finance | Insurance | Passed Original Chamber |
| SB585: Rates, Underwriting, and Related Organizations; certain disclosures in property and casualty insurance rate filings concerning climate related risk, catastrophe modeling, and reinsurance costs; requireView Source | Georgia | GA Former Sen. Nabilah Islam Parkes (D-GA-007) | Climate | Climate Adaptation , Climate Finance | Insurance | Introduced or Prefiled |
| HB3799: Ins-Climate Risk DisclosureView Source | Illinois | IL Rep. Robyn Gabel (D-IL-018), IL Rep. Bob Morgan (D-IL-058), IL Sen. Don Harmon (D-IL-039), IL Sen. Michael "Mike" Hastings (D-IL-019), IL Sen. Laura Ellman (D-IL-021) | Climate | Climate Accountability, Climate Finance | Disclosure, Insurance | Passed Second Chamber |
| SB 5928: Concerning wildfire risk models and score disclosure.View Source | Washington | WA Sen. Judy Warnick (R-WA-013) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Passed Original Chamber |
| SB 6079: Creating a wildfire mitigation grant program.View Source | Washington | WA Sen. Marcus Riccelli (D-WA-003) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Passed Original Chamber |
| S.687: Creates Joint Blue Ribbon Task Force on Impacts of Climate Change on Property Insurance.View Source | New Jersey | NJ Sen. John McKeon (D-NJ-027), NJ Sen. Bob Smith (D-NJ-017) | Climate | Climate Finance | Insurance | Passed Original Chamber |
| SB154: Insurance Coverage For Wildfire & FloodsView Source | New Mexico | NM Rep. Anita Gonzales (D-NM-070), NM Sen. Katy Duhigg (D-NM-010), NM Rep. Christine "Chris" Chandler (D-NM-043) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Out of Committee |
| HB204: Wildfire Risk Insurance Models & UnderwritingView Source | New Mexico | NM Rep. Anita Gonzales (D-NM-070) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| S.B.2962: RELATING TO INSURANCE.View Source | Hawaii | HI Sen. Angus "Mac" McKelvey (D-HI-006) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| S.679: "Climate Corporate Data Accountability Act"; requires certain business entities to publicize annual greenhouse gas emissions data.View Source | New Jersey | NJ Sen. John McKeon (D-NJ-027), NJ Sen. Bob Smith (D-NJ-017) | Climate | Climate Finance | Disclosure | Out of Committee |
| H.B.1040: Maryland Strategic Energy Investment Fund - Mandated Uses - Climate Change ProgramsView Source | Maryland | MD Del. Dana Stein (D-MD-011B) | Climate, Oceans | Climate Finance, Offshore Wind | Green Banks, Offshore Wind | Introduced or Prefiled |
| SB1526: Requires the State Department of Energy to apply for grant moneys from the State Agency Program Fund to cover the costs and expenses of carrying out pre-startup activities and forming a nonprofit entity.View Source | Oregon | Climate | Climate Finance | Green Banks | Out of Committee | |
| H.619: Wildfire risk mitigation fundView Source | Idaho | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled | |
| H.618: Fire insurance transparencyView Source | Idaho | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled | |
| A.4282A: Establishes the climate corporate data accountability actView Source | New York | NY Assemb. Deborah Glick (D-NY-066) | Climate | Climate Accountability, Climate Finance | Disclosure | Out of Committee |
| S.9072A: Establishes the climate corporate data accountability actView Source | New York | NY Sen. Pete Harckham (D-NY-040) | Climate | Climate Finance | Disclosure | Passed Original Chamber |
| S.B.0622: Maryland Strategic Energy Investment Fund - Required Uses - Building Electrification and Transportation ElectrificationView Source | Maryland | MD Sen. Ron Watson (D-MD-023) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| S.3400: Directs EDA to establish New Jersey Energy Independence Bank.View Source | New Jersey | NJ Sen. Andrew Zwicker (D-NJ-016) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| S.B.2452: RELATING TO CLIMATE-FRIENDLY INSURERS.View Source | Hawaii | HI Sen. Karl Rhoads (D-HI-013) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| S.B. 1543: Modifies provisions relating to homeowner's insuranceView Source | Missouri | MO Sen. Sandy Crawford (R-MO-028) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| S.B.2947: RELATING TO INSURANCE.View Source | Hawaii | HI Sen. Angus "Mac" McKelvey (D-HI-006) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| SB 6304: Ensuring that responsible principles of investing are incorporated into the investment decision making of the Washington state investment board.View Source | Washington | WA Sen. Yasmin Trudeau (D-WA-027) | Climate | Climate Finance | Pensions | Introduced or Prefiled |
| SB26-049: Homeowner Natural Disaster MitigationView Source | Colorado | CO Rep. Sean Camacho (D-CO-006), CO Sen. Lisa Frizell (R-CO-002), CO Sen. Marc Snyder (D-CO-012) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| SB 366: Initiating a Property Insurance Interstate CompactView Source | Florida | FL Sen. Mack Bernard (D-FL-024) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
| SB 832: Residential Property InsuranceView Source | Florida | FL Sen. Bryan Avila (R-FL-039) | Climate | Climate Finance | Insurance | Out of Committee |
| HB 2407: Creating a wildfire mitigation grant program.View Source | Washington | WA Rep. Alex Ramel (D-WA-040) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| S.607: Establishes Renewable and Efficient Energy Financing Program; authorizes BPU to transfer up to $20 million annually in societal benefits charge revenues to New Jersey Infrastructure Bank for purposes of program.View Source | New Jersey | NJ Sen. Bob Smith (D-NJ-017), NJ Sen. Linda Greenstein (D-NJ-014) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| S.1657: Establishes "Energy Infrastructure Public-Private Partnerships Program"; amends law concerning NJ Infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 25 years.View Source | New Jersey | NJ Sen. Paul Sarlo (D-NJ-036), NJ Sen. Andrew Zwicker (D-NJ-016) | Climate | Climate Finance, Just Transition | Green Banks, Workforce Development | Introduced or Prefiled |
| S.1644: Establishes Small Business Resiliency Project Loan Program in EDA for certain small businesses implementing certain resiliency projects.View Source | New Jersey | NJ Sen. Andrew Zwicker (D-NJ-016), NJ Sen. Linda Greenstein (D-NJ-014) | Climate | Climate Adaptation , Climate Finance | Green Banks | Introduced or Prefiled |
| S.R.17: Urges lending institutions in State to stop financing projects that contribute to climate change.View Source | New Jersey | NJ Sen. Bob Smith (D-NJ-017) | Climate | Climate Finance | Contracts | Introduced or Prefiled |
| S.604: Prohibits investment by State of pension and annuity funds in, and requires divestment from, 200 largest publicly traded fossil fuel companies.View Source | New Jersey | NJ Sen. Bob Smith (D-NJ-017), NJ Sen. Raj Mukherji (D-NJ-032) | Climate | Climate Finance | Pensions | Introduced or Prefiled |
| A.1054: Establishes "Energy Infrastructure Public-Private Partnerships Program"; amends law concerning NJ Infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 25 years.View Source | New Jersey | NJ Assemb. William Spearman (D-NJ-005), NJ Assemb. Wayne DeAngelo (D-NJ-014) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| A.3263: Directs EDA to establish New Jersey Energy Independence Bank.View Source | New Jersey | NJ Assemb. Yvonne Lopez (D-NJ-019), NJ Assemb. Dan Hutchison (D-NJ-004), NJ Assemb. Rosaura "Rosy" Bagolie (D-NJ-027) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| A.3903: Establishes Climate Change Mitigation and Resilience Financing Program in NJ Infrastructure Bank; imposes per-kilowatt hour charge on electric energy consumption to finance climate change mitigation and resilience projects.View Source | New Jersey | NJ Assemb. Sterley Stanley (D-NJ-018), NJ Assemb. Robert "Rob" Karabinchak (D-NJ-018), NJ Assemb. James "Jim" Kennedy (D-NJ-022) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| HB 2277: Concerning wildfire risk models and score disclosure.View Source | Washington | WA Rep. Zach Hall (D-WA-005) | Climate | Climate Adaptation , Climate Finance | Wildfires, Insurance | Introduced or Prefiled |
| S720: An Act to promote climate resilient homesView Source | Massachusetts | MA Sen. Julian Cyr (D-MA-Massachusetts Senate Cape and Islands) | Climate | Climate Finance | Insurance | Out of Committee |
| SB0174: An act relating to the study of Green Bank models to support and accelerate investments in climate mitigation infrastructure, farming, and agriculture in VermontView Source | Vermont | VT Sen. Anne Watson (D-VT-011) | Climate | Climate Finance | Green Banks | Introduced or Prefiled |
| HB 319: Property Insurance Interstate CompactView Source | Florida | FL Rep. Kelly Skidmore (D-FL-092) | Climate | Climate Finance | Insurance | Introduced or Prefiled |
No matching bills.
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Related Resources
Climate Finance Briefing Book
In October 2021, the Financial Stability Oversight Council (FSOC) issued a report concluding that climate change poses an “emerging and increasing threat to U.S. financial stability,” and directed FSOC’s member regulatory agencies to institute climate financial regulations. The report comprises a climate risk supervision framework, including standards for corporations to disclose climate risk to investors and regulatory rules requiring banks and other financial institutions to measure their exposure to climate risks. Many aspects of state finances, including budgets and pensions, are exposed to climate risk. State policymakers have a range of tools and policies available that can reinforce the federal climate risk supervision framework and shield constituents from the economic threats of climate change. State governments have tremendous economic power that can be a force for shaping financial market outcomes.
Green Banks Issue Brief
This Issue Brief is intended to give an overview of green banks as tools to accelerate the transition to clean energy and fight climate change. The full Issue Brief includes a green banks overview section, steps state lawmakers can take to create a green bank, sample state green bank legislation, and additional resources.
Online Resources
This report identifies the wide range of fiscal and regulatory tools that are available to state policymakers to respond to climate change effectively, equitably, and in ways that set up their economies for prosperity and security down the road.
This report provides an update on state-level anti-ESG efforts and the impacts that they are having on pension holders, taxpayers, investors, and the corporate sector at large once enacted.
NEC’s 2025 Environmental Leadership Accelerator included a six-week course for state legislators to learn more about actionable solutions related to climate risk management strategies in the policy areas of insurance, disaster recovery, pension funds, and more.
Climate Finance and Environmental Justice
When states do not plan for the financial impact of climate change, the most vulnerable populations are impacted the most. Careful design of green banks and other financial mechanisms can ensure that low-income communities have access to renewable energy resources that can lower their energy bills.
Green Banks
Green banks allow disproportionately impacted communities to build wealth, generate substantial energy savings, and make investments that replace polluting energy infrastructure with clean alternatives. (atlanticcouncil.org)
Insurance
As insurance companies leave states altogether, low-income communities and communities of color will be most impacted, as they are the most likely to live in climate-vulnerable geographies, the least able to prepare for and recover from natural disasters, and have long had the fewest insurance options. (americanprogress.org)
Disaster Resilience
Nationally, more than half of households impacted by disasters are denied federal assistance or don’t have insurance, with Black households often the most likely to face the complete loss of a home. (capitalbnews.org)
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