Public Energy Financing Overseas
As part of our international sustainable finance campaign, we track government-backed institutions that fund energy projects overseas. We work to end public financing of fossil fuels and to give a voice to affected communities.
The U.S. government’s ineffective guidance on fossil fuel financing at MDBs reflects its unwillingness to rigorously act on climate
Today, President Biden put forward a government-wide performance standard to apply to U.S. financing of overseas energy projects.
Today the United States and 24 other countries and institutions from both developed and developing countries committed to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance.
The U.S. government has spent more than $44 billion on fossil fuel projects overseas over the last decade.
EXIM continues to invest in projects with severe environmental impacts, human rights abuses, and detrimental effects on local communities and public health.
The headline finding is that from 2016 to 2018 G20 countries provided an average of USD $77 billion a year in public finance for fossil fuels.