International Sustainable Finance
At Friends of the Earth, we work to strengthen and raise environmental and social standards at international financial institutions. Our goal is to promote the highest environmental, social, climate, and sustainability standards and practices in the international banking sector in an effort to protect the environment, communities, and climate on a local and global level.
Ex-Im Bank not supporting this dirty coal plant is a victory against Trump’s promotion of fossil fuels at the expense of our climate and local communities.
The Export-Import Bank dodged a bullet today when a Senate committee voted down Scott Garrett, a climate change denier and bigot.
We now expect all other public and private finance institutions to follow the World Bank’s lead and end fossil fuel financing once and for all.
Through the U.S. Export-Import Bank (Ex-Im), Trump is pushing developing countries toward dependence on coal for decades to come.
As they gather in the shadow of the UN Climate Conference, ECAs must cease business as usual and finally move in a new and more sustainable direction by ending all support of fossil fuels by 2020 at the latest.
After providing almost $6 billion annually to fossil fuels from 2013 to 2015, the U.S. export credit agency – the U.S. Export-Import Bank (Ex-Im) – has been unable to finance large fossil fuel projects for the past two years.