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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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Status:
Expired
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Additional Information
Print number: 118_S_3455
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2023-12-07