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US Foreign Policy Shift: Ending Fossil Fuel Funding in International Finance.

This bill mandates that the US use its voice and vote in international financial institutions to advance clean energy and oppose investments that create new fossil fuel capacity. Furthermore, the US government is prohibited from providing financial or technical assistance to countries or entities for fossil fuel activity. The bill also establishes a mechanism to withhold US contributions to institutions that continue to fund new fossil fuel projects.
Key points
The US must use its voice in financial institutions to oppose loans and investments that create new fossil fuel capacity.
Withholding of a portion of US contributions to financial institutions that fund new fossil fuel projects until such activities cease.
Prohibition on US financial or technical assistance for foreign fossil fuel activity.
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Expired
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Additional Information
Print number: 118_S_3455
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2023-12-07
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Sustainable International Financial Institutions Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3455.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-12-07.

What are the main provisions?

Key points include:

  • The US must use its voice in financial institutions to oppose loans and investments that create new fossil fuel capacity.
  • Withholding of a portion of US contributions to financial institutions that fund new fossil fuel projects until such activities cease.
  • Prohibition on US financial or technical assistance for foreign fossil fuel activity.
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 Sen. Merkley, Jeff [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Environment Public Investments Economy