Fossil Free Finance Act
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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.
Referred to the House Committee on Financial Services.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 5253: Fossil Free Finance Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-5253/
"H.R. 5253: Fossil Free Finance Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-5253/.
H.R. 5253, 117th Cong. (2026), https://openamerica.io/bill/117-HR-5253/.
[H.R. 5253: Fossil Free Finance Act](https://openamerica.io/bill/117-HR-5253/)