I 

116TH CONGRESS 

2D SESSION H. R. 8806 

To amend title 5, United States Code, to provide for an investment option 

under the Thrift Savings Plan that does not include investment in 

any fossil fuel companies. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 20, 2020 

Ms. TLAIB (for herself, Ms. KAPTUR, Ms. LEE of California, Ms. JUDY CHU

of California, and Mr. GARCI ́A of Illinois) introduced the following bill; 

which was referred to the Committee on Oversight and Reform, and in 

addition to the Committees on Energy and Commerce, and Education 

and Labor, for a period to be subsequently determined by the Speaker, 

in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend title 5, United States Code, to provide for an 

investment option under the Thrift Savings Plan that 

does not include investment in any fossil fuel companies. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Retirement Invest5 ments for a Sustainable Economy Act of 2020’’ or the 

6 ‘‘RISE Act of 2020’’. 


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1 SEC. 2. SENSE OF CONGRESS. 

2 It is the sense of Congress that— 

3 (1) continued inaction by the Federal Govern4 ment with respect to addressing climate change 

5 poses a significant threat to the growth and stability 

6 of the economy and population of the United States; 

7 (2) pension and retirement funds are vulnerable 

8 to distinct risks relating to climate change, includ9 ing— 

10 (A) climate impact risks, including sea 

11 level rise, heat waves, desertification, ocean 

12 acidification, flooding, drought, extreme weath13 er, and wildfires; 

14 (B) carbon-constrained demand risks, in15 cluding stranded carbon assets, which financial 

16 institutions have estimated as having a value of 

17 $100,000,000,000,000; and 

18 (C) climate liability risks, including from 

19 evolving interpretations of fiduciary and 

20 tortious duties of care; and 

21 (3) assessing the potential impact of climate-re22 lated risks on national and international financial 

23 systems, including retirement savings accounts and 

24 pensions, is an urgent concern. 


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1 SEC. 3. CLIMATE CHOICE STOCK INDEX FUND. 

2 Section 8438 of title 5, United States Code, is 

3 amended— 

4 (1) in subsection (a)— 

5 (A) by redesignating paragraphs (4) 

6 through (10) as paragraphs (7) through (13), 

7 respectively; 

8 (B) by redesignating paragraphs (1), (2), 

9 and (3) as paragraphs (2), (4), and (5), respec10 tively; 

11 (C) by inserting before paragraph (2), as 

12 so redesignated, the following: 

13 ‘‘(1) the term ‘Climate Choice Stock Index 

14 Fund’ means the Climate Choice Stock Index Fund 

15 established under subsection (b)(1)(G);’’; 

16 (D) by inserting after paragraph (2), as so 

17 redesignated, the following: 

18 ‘‘(3) the term ‘entity’ means any sole propri19 etorship, organization, association, corporation, part20 nership, joint venture, limited partnership, limited li21 ability partnership, limited liability company, or 

22 other business association, including any wholly 

23 owned subsidiary, majority-owned subsidiary, par24 ent-country national, or affiliate of the business as25 sociation, that exists for the purpose of making prof26 it;’’; and 


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1 (E) by inserting after paragraph (5), as so 

2 redesignated, the following: 

3 ‘‘(6) the term ‘fossil fuel entity’ means any en4 tity— 

5 ‘‘(A) with proven carbon reserves; or 

6 ‘‘(B) that explores for, extracts, processes, 

7 refines, or transmits coal, oil, gas, oil shale, or 

8 tar sands;’’; and 

9 (2) in subsection (b)— 

10 (A) in paragraph (1)— 

11 (i) in subparagraph (E), by striking 

12 ‘‘and’’ at the end; 

13 (ii) in subparagraph (F), by striking 

14 the period at the end and inserting ‘‘; 

15 and’’; and 

16 (iii) by adding at the end the fol17 lowing: 

18 ‘‘(G) a Climate Choice Stock Index Fund 

19 as provided in paragraph (6).’’; and 

20 (B) by adding at the end the following: 

21 ‘‘(6)(A) The Board shall select an index which 

22 is a commonly recognized index comprised of com23 mon stock. 

24 ‘‘(B) The historical performance of the index 

25 selected under subparagraph (A) shall be comparable 


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1 to that of the other investment funds and options 

2 available under this subsection. 

3 ‘‘(C) The Climate Choice Stock Index Fund 

4 shall be invested in a portfolio that is designed— 

5 ‘‘(i) to replicate the performance of the 

6 index selected under subparagraph (A); 

7 ‘‘(ii) such that, to the extent practicable, 

8 the percentage of the Climate Choice Stock 

9 Index Fund that is invested in each stock is the 

10 same as the percentage determined by dividing 

11 the aggregate market value of all shares of that 

12 stock by the aggregate market value of all 

13 shares of all stocks included in the index se14 lected under subparagraph (A); and 

15 ‘‘(iii) to ensure that no investment in the 

16 portfolio is an investment with respect to a fos17 sil fuel entity.’’. 

Æ 


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