,,ii  #aae? ,,congress  #b;d ,session   
,s4 #cdbd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #f1 #bjah    
,mr4 ,m]kley introduc$ ! foll[+ bill2   
:i* 0 read twice & ref]r$ to !          
,committee on ,homel& ,security &       
,gov]nm5tal ,affairs  ,a ,,bill  ,to    
am5d title #e1 ,unit$ ,/ates ,code1 to  
provide = an inve/m5t option "u ! ,?rift
 ,sav+s ,plan t does n include inve/m5t 
9 any fossil fuel companies4  #a4 ,%ort 
title  ,?is ,act may be cit$ z !        
,retirem5t ,inve/m5ts = a ,su/a9able    
,economy ,act ( #bjah or ! ,,rise ,act (
 #bjah4  #b4 ,s5se ( ,congress ,x is !  
s5se ( ,congress t-- 7#a7 cont9u$       
inaction by ! ,f$]al ,gov]nm5t ) respect
 to address+ climate *ange poses a      
significant ?reat to ! gr[? & /ability (
 ! economy & population ( ! ,unit$      
,/ates2  7#b7 p5sion & retirem5t funds  
are vuln]able to di/9ct risks relat+ to 
climate *ange1 includ+--  7,a7 climate  
impact risks1 includ+ sea level rise1   
heat waves1 des]tification1 ocean       

acidification1 flood+1 dr\ght1 extreme  
wea!r1 & wildfires2  7,b7 c>bon-con/ra9$
 dem& risks1 includ+ /r&$ c>bon assets1 
:i* f9ancial in/itutions h e/imat$ z    
hav+ a value ( #ajj1jjj1jjj1jjj1jjj2 &  
7,c7 climate liability risks1 includ+ f 
evolv+ int]pretations ( fiduci>y &      
torti\s duties ( c>e2 &  7#c7 assess+ ! 
pot5tial impact ( climate-relat$ risks  
on national & int]national f9ancial     
sy/ems1 includ+ retirem5t sav+s acc\nts 
& p5sions1 is an urg5t conc]n4  #c4     
,climate ,*oice ,/ock ,index ,fund      
,section #hdch ( title #e1 ,unit$ ,/ates
 ,code1 is am5d$-- 7#a7 9 subsection    
7a7--  7,a7 by r$esignat+ p>agraphs 7#d7
 ?r\gh 7#aj7 z p>agraphs 7#g7 ?r\gh     
7#ac71 respectively2  7,b7 by r$esignat+
 p>agraphs 7#a71 7#b71 & 7#c7 z         
p>agraphs 7#b71 7#d71 & 7#e71           
respectively2  7,c7 by ins]t+ be=e      
p>agraph 7#b71 z s r$esignat$1 ! foll[+3
  7#a7 ! t]m ,climate ,*oice ,/ock      
,index ,fund means ! ,climate ,*oice    
,/ock ,index ,fund e/abli%$ "u          

subsection 7b77#a77;,g72  2  7,d7 by    
ins]t+ aft] p>agraph 7#b71 z s          
r$esignat$1 ! foll[+3  7#c7 ! t]m entity
 means any sole proprietor%ip1          
organization1 association1 corporation1 
p>tn]%ip1 jo9t v5ture1 limit$ p>tn]%ip1 
limit$ liability p>tn]%ip1 limit$       
liability company1 or o!r bus9ess       
association1 includ+ any :olly-own$     
subsidi>y1 majority-own$ subsidi>y1     
p>5t-c\ntry national1 or affiliate ( !  
bus9ess association1 t exi/s = ! purpose
 ( mak+ pr(it2  2 &  7,e7 by ins]t+ aft]
 p>agraph 7#e71 z s r$esignat$1 !       
foll[+3  7#f7 ! t]m fossil fuel entity  
means any entity--  7,a7 ) prov5 c>bon  
res]ves2 or  7,b7 t explores =1         
extracts1 processes1 ref9es1 or         
transmits coal1 oil1 gas1 oil %ale1 or  
t> s&s2  2 &  7#b7 9 subsection 7b7--   
7,a7 9 p>agraph 7#a7--  7i7 9           
subp>agraph 7,e71 by /rik+ & at ! end2  
7ii7 9 subp>agraph 7,f71 by /rik+ !     
p]iod at ! end & ins]t+ 2 &2 &  7iii7 by
 add+ at ! end ! foll[+3  7,g7 a        

,climate ,*oice ,/ock ,index ,fund z    
provid$ 9 p>agraph 7#f74  2 &  7,b7 by  
add+ at ! end ! foll[+3  7#f7 7,a7 ,!   
,bo>d %all select an index :i* is a     
commonly recogniz$ index compris$ (     
common /ock4  7,b7 ,! hi/orical p]=mance
 ( ! index select$ "u subp>agraph 7,a7  
%all be comp>able to t ( ! o!r inve/m5t 
funds & options available "u ?is        
subsection4  7,c7 ,! ,climate ,*oice    
,/ock ,index ,fund %all be inve/$ 9 a   
portfolio t is design$-- 7i7 to         
replicate ! p]=mance ( ! index select$  
"u subp>agraph 7,a72  7ii7 su* t1 to !  
ext5t practicable1 ! p]c5tage ( !       
,climate ,*oice ,/ock ,index ,fund t is 
inve/$ 9 ea* /ock is ! same z ! p]c5tage
 det]m9$ by divid+ ! aggregate m>ket    
value ( all %>es ( t /ock by ! aggregate
 m>ket value ( all %>es ( all /ocks     
includ$ 9 ! index select$ "u subp>agraph
 7,a72 &  7iii7 to ensure t no inve/m5t 
9 ! portfolio is an inve/m5t ) respect  
to a fossil fuel entity4  4  #d4        
,gov]nm5t ,acc\ntability ,(fice report  

7a7 ,def9ition ,9 ?is section1 ! t]m    
fossil fuel entity has ! mean+ giv5 !   
t]m 9 section #hdch7;a7 ( title #e1     
,unit$ ,/ates ,code1 z am5d$ by ?is     
,act4  7b7 ,report ,n lat] ?an #a ye>   
aft] ! date ( enactm5t ( ?is ,act1 !    
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit to ,congress a report t--   
7#a7 analyzes1 z ( t date ( enactm5t--  
7,a7 ! proportion ( ! /ocks1 bonds1 &   
o!r obligations held by ! ,?rift ,sav+s 
,fund t are /ocks1 bonds1 or o!r        
obligations ( a fossil fuel entity2 &   
7,b7 ! effect on individuals hold+      
acc\nts 9 ! ,?rift ,sav+s ,fund ( !     
,?rift ,sav+s ,fund hold+ /ocks1 bonds1 
or o!r obligations ( fossil fuel        
entities "u ! climate policies t w\ld be
 ne$$ to limit global temp]ature        
increase to #b degrees ,celsius1 giv5   
te*nology t is available & economically 
feasible z ( t date ( enactm5t2 &  7#b7 
provides a plan & me*anism t w\ld all[ !
 ,f$]al ,retirem5t ,?rift ,inve/m5t     
,bo>d to dive/ f fossil fuel entities to

 prev5t or mitigate any negative        
inve/m5t risk on individuals hold+      
acc\nts 9 ! ,?rift ,sav+s ,fund4