Today, 27 environmental and civil society organizations from Papua New Guinea, the Asia Pacific region and the United States submitted a letter to the U.S. Export-Import Bank (EXIM) urging it to oppose support for the Category A Papua liquefied natural gas project.
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Biden breaks climate pledge again with new EXIM approval for Transfigura LNG exports
It is alarming that Biden continues to break climate commitments to end international public finance for fossil fuels. He uses public money to prop up the dirty industry that fuels climate disaster and harms communities, while we suffer record breaking extreme heat.
Biden at risk of breaking climate promise with $500 million of public finance for LNG imports in Poland
Next week, the U.S. International Development Finance Corporation is likely to consider a $500 million guarantee to help Polish oil and gas company PKN Orlen increase its imports of U.S. LNG, violating Biden’s commitment to end public finance for fossil fuels by the end of 2022.
Release the Guidance: Backgrounder on U.S. International Energy Finance ahead of COP27 Deadline
From 2010-2021, the United States’ trade and development finance institutions provided nearly five times as much support to fossil fuels as to renewables — over $51.6 billion for fossils compared to just $10.9 billion for renewables.
Oil Change International response to Biden Administration announcements on international finance
“Today’s announcement by President Biden on international fossil finance is welcome but the lack of firm commitments falls short. We urge the Biden administration to add a clear commitment to an immediate phase-out, with no loopholes for gas or any other continued fossil support.”
U.S. Senator Jeff Merkley Introduces Pair of Bills to Halt Financial Investments in Fossil Fuels
“If banks won’t stop funding climate devastation, our government must force their hand, and Senator Merkley’s bills would force the action we need,” said David Turnbull of Oil Change International.
Briefing: Why Congress Must Stop Blocking Climate Progress on International Finance
There is an urgent need to ensure that anti-climate riders stay out of appropriations packages for Fiscal Year 2020 as Congress and the Trump Administration continue to negotiate a spending package.
Briefing: Why the U.S. Export-Import Bank Must End Financing for Fossil Fuels
Over the past decade, nearly 90% of the U.S. Export-Import Bank’s total finance for energy projects has flowed to projects in oil, gas, and coal. As momentum grows for climate solutions in the U.S. and abroad, there is an urgent need for a ban on fossil fuel financing at ExIm.