U.S. Export-Import Bank Adopts Carbon Policy to Support Renewable Energy
The Export-Import Bank of the United States (Ex-Im Bank) says it is the first Export Credit Agency (ECA) to adopt a comprehensive Carbon Policy to help U.S. manufacturers produce renewable energy and climate-friendly technologies for the world market. The policy also includes a commitment to improve the bank’s transparency in the tracking and reporting of CO2 emissions from projects that it supports.
The Ex-Im Bank says the Carbon Policy is in keeping with the Obama Administration’s commitment to help create new jobs through the promotion of “green” technology. Ex-Im Bank is the official export-credit agency of the United States.
As a part of this policy the Ex-Im Bank has established for the first time a $250 million facility to finance renewable energy exports, including solar, wind and geothermal energy. The policy also commits the bank to be a leader in financing of climate-friendly technologies made by American workers, including those that reduce greenhouse gas emissions and increase energy efficiency.
Ex-Im Bank also pledges to advocate in the Organization for Economic Cooperation and Development (OECD) for the creation of financing incentives for low to zero CO2-emitting projects, and disincentives for high intensity fossil fuel projects.
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