They described mounting frustration among climate advisory board members, who say they are being kept in the dark about upcoming fossil fuel loans and blocked from making recommendations about whether to approve or even modify a particular project.
Mr. Biden’s aides have expressed concern about the direction of the bank, which has consistently flouted a 2021 presidential order that government agencies stop financing carbon-intensive projects overseas.
The furor over a possible Bahrain deal comes just two months after the United States joined nearly 200 other nations in a promise to transition away from fossil fuels, the burning of which is dangerously overheating the planet.
The Export-Import Bank, commonly known as ExIm, was established in 1934 to support American jobs by providing loans and guarantees for the export of U.S. goods and services.
During the Obama administration the bank came under fire for financing coal plants, and, in 2010 as part of a legal settlement with environmental groups, agreed to create a “rigorous enhanced due diligence process” for all carbon intensive energy projects.
That decision also raised concerns inside the Biden administration, which had just months earlier signed an agreement to help Indonesia transition to clean energy.
The original article contains 1,097 words, the summary contains 196 words. Saved 82%. I’m a bot and I’m open source!
This is the best summary I could come up with:
They described mounting frustration among climate advisory board members, who say they are being kept in the dark about upcoming fossil fuel loans and blocked from making recommendations about whether to approve or even modify a particular project.
Mr. Biden’s aides have expressed concern about the direction of the bank, which has consistently flouted a 2021 presidential order that government agencies stop financing carbon-intensive projects overseas.
The furor over a possible Bahrain deal comes just two months after the United States joined nearly 200 other nations in a promise to transition away from fossil fuels, the burning of which is dangerously overheating the planet.
The Export-Import Bank, commonly known as ExIm, was established in 1934 to support American jobs by providing loans and guarantees for the export of U.S. goods and services.
During the Obama administration the bank came under fire for financing coal plants, and, in 2010 as part of a legal settlement with environmental groups, agreed to create a “rigorous enhanced due diligence process” for all carbon intensive energy projects.
That decision also raised concerns inside the Biden administration, which had just months earlier signed an agreement to help Indonesia transition to clean energy.
The original article contains 1,097 words, the summary contains 196 words. Saved 82%. I’m a bot and I’m open source!