3.0.0 4834 2023-01-11T13:44:23Z 2023-01-11T13:44:23Z Senate S 2020-10-21 116 ssfr00 Foreign Relations Committee Senate Standing Referred to 2020-10-21T20:45:16Z 2020-10-21 ssfr00 Foreign Relations Committee Senate Read twice and referred to the Committee on Foreign Relations. IntroReferral 2020-10-21 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N International Affairs Air quality Alternative and renewable resources Climate change and greenhouse gases Coal Competitiveness, trade promotion, trade deficits Foreign aid and international relief Foreign loans and debt International organizations and cooperation Multilateral development programs Oil and gas International Affairs 00 2020-10-21 Introduced in Senate 2021-05-24T16:38:31Z Sustainable International Financial Institutions Act of 2020

This bill establishes requirements to promote clean energy and climate justice globally through international financing mechanisms.

Specifically, the bill requires the U.S. Executive Directors of specified international financial institutions to use the voice and vote of the United States to (1) advance the cause of reducing carbon emissions and transitioning the global economy to a clean energy economy, and (2) oppose any loan or extension of financial or technical assistance to a country or entity to create new capacity for fossil fuel activity. The Department of the Treasury must reduce the yearly U.S. contribution to a financial institution by the amount of any loans or assistance provided by the institution to a country or entity to create new capacity for fossil fuel activity during that year.

Further, the bill prohibits the United States from providing any loan, insurance, guarantee, or extension of financial or technical assistance to a country or entity for any fossil fuel activity.

]]> Sustainable International Financial Institutions Act of 2020 Display Title Sustainable International Financial Institutions Act of 2020 Short Title(s) as Introduced Sustainable International Financial Institutions Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to require the use of the voice and vote of the United States in international financial intuitions to advance the cause of transitioning the global economy to a clean energy economy and to prohibit United States Government assistance to countries or entities to support fossil fuel activity, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-10-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4834is/xml/BILLS-116s4834is.xml 2020-10-21 Read twice and referred to the Committee on Foreign Relations. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.