SR557

Recognizes that unchecked climate change poses severe risks to national and global economies.

This resolution acknowledges that climate change threatens to destabilize national and global economies through financial market collapses. It highlights the potential $25 trillion decline in global residential property values due to unavailable or unaffordable insurance. The resolution also cites projections of a $178 trillion loss to the global economy by 2070 and a 10 to 20 percent decline in worldwide per capita GDP within three decades if climate change is not addressed.