Sen. Bernie Sanders and Rep. Ilhan Omar reintroduced the End Polluter Welfare Act, the most comprehensive legislation to address the billions in special interest subsidies that disproportionately flow to the oil, gas, and coal industries.
exim
US Export-Import Bank Approves Staggering $500 million for Bahrain oil and gas drilling project
Today the board of the US Export-Import Bank (EXIM) approved $500 million to expand oil and gas production in Bahrain, despite Biden’s commitment to end international public finance for fossil fuels made in 2021.
New analysis: International agreement builds momentum for shifting billions away from fossil fuels, but U.S., others lag behind
U.S. single biggest violator of CETP pledge, approving the most fossil fuel projects of any signatory for a total of almost USD $2.3 billion.
EXIM’s approval of Estonian oil project financing another blow to Biden’s climate promises
“The United States can help lead a shift of billions of dollars from last century’s dirty energy into the clean, renewable energy of the future, but EXIM’s fossil fuel approvals like Liwathon are a huge step backward.”
EXIM under Biden risks repeating mistakes of Obama in supporting Papua LNG
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.
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.
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