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Promoting Clean Energy and Climate Justice Globally

This act aims to redirect U.S. funds in international financial institutions towards supporting clean energy and combating climate change. This means the United States will actively oppose funding for fossil fuel projects, potentially influencing global investments and future energy availability.
Key points
The U.S. will use its voice in international banks to promote clean energy and reduce greenhouse gas emissions.
Support for new fossil fuel projects, including refurbishment of existing facilities, will be prohibited.
Funds allocated to fossil fuel support will be withheld and released only when financial institutions cease such investments.
The act seeks to phase out funding for internal combustion engines in passenger vehicles and buses by 2030.
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Expired
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Additional Information
Print number: 118_HR_10341
Sponsor: Rep. Huffman, Jared [D-CA-2]
Process start date: 2024-12-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Sustainable International Financial Institutions Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10341.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-10.

What are the main provisions?

Key points include:

  • The U.S. will use its voice in international banks to promote clean energy and reduce greenhouse gas emissions.
  • Support for new fossil fuel projects, including refurbishment of existing facilities, will be prohibited.
  • Funds allocated to fossil fuel support will be withheld and released only when financial institutions cease such investments.
  • The act seeks to phase out funding for internal combustion engines in passenger vehicles and buses by 2030.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Huffman, Jared [D-CA-2].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Environment Economy Public Investments