Despite Paris agreement, Congress aims to restrict climate policies of Ex-Im and OPIC
WASHINGTON, D.C. – In 2013, the Obama administration implemented measures to restrict financing of fossil fuel plants abroad. These measures included restrictions on the Export-Import Bank’s financing for coal plants in all but the least developed countries, as well as draft guidance that discouraged the Overseas Private Investment Corporation from investing in coal plants and a cap on the greenhouse gas emissions of OPIC’s portfolio. Today, Congress released a draft omnibus appropriations bill that included a rider that hinders these policies.
Friends of the Earth International Policy Analyst Kate DeAngelis offered the following response:
Congress is once again set to allow the fossil fuel industry to win out over clean air and water. This bill sends the wrong signal to the world just as negotiators finalized a deal in Paris to reduce global greenhouse gas emissions. Rather than contributing to those efforts, Congress is working to increase financing projects that will destroy local communities and wreak climate havoc. If the United States ever expects to do its climate fair share, it must stop financing all fossil fuel projects abroad.