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US Policy Shift: Ending Fossil Fuel Funding in International Financial Institutions.

This bill mandates that the US use its influence and vote in major international financial institutions (like the World Bank) to actively oppose any new investments or assistance that would expand global fossil fuel capacity. Furthermore, the US government is prohibited from providing any direct foreign aid, loans, or guarantees that support coal, oil, or gas extraction, processing, or transport. The goal is to accelerate the global transition to clean energy and climate justice.
Key points
The US must block international financial institutions from funding new fossil fuel projects, including refurbishing existing coal, oil, or gas infrastructure.
If an institution funds new fossil fuel capacity, the US will withhold its financial contributions and place them in escrow until the practice stops.
All direct US foreign assistance (loans, guarantees, technical aid) is banned from supporting any fossil fuel activity or related infrastructure globally.
The US will support phasing out funding for internal combustion engines in passenger vehicles and buses by 2027.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_3123
Sponsor: Sen. Merkley, Jeff [D-OR]
Process start date: 2025-11-06
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Sustainable International Financial Institutions Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3123.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-11-06.

What are the main provisions?

Key points include:

  • The US must block international financial institutions from funding new fossil fuel projects, including refurbishing existing coal, oil, or gas infrastructure.
  • If an institution funds new fossil fuel capacity, the US will withhold its financial contributions and place them in escrow until the practice stops.
  • All direct US foreign assistance (loans, guarantees, technical aid) is banned from supporting any fossil fuel activity or related infrastructure globally.
  • The US will support phasing out funding for internal combustion engines in passenger vehicles and buses by 2027.
What is the specific legal status?

The current status is Introduced.

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 2025-12-31.

CATEGORIES

Environment Public Investments Economy