White House at odds with Export-Import Bank's fossil fuel financing

Despite climate concerns, the U.S. Export-Import Bank persists in funding overseas fossil fuel projects, raising questions about alignment with federal climate goals.

Sara Schonhardt reports for POLITICO.

In short:

The Export-Import Bank (EXIM) continues to invest in fossil fuel projects, which contradicts President Biden’s climate policies.
The bank's Climate Council, established at Biden's behest, has no real influence on its investment decisions and is restricted from giving advice on specific projects.
Biden has publicly disagreed with EXIM’s investments, and there is growing frustration among government and environmental groups about the bank's actions.

Key quote:

The agency “seeks to align with the administration’s climate agenda while still complying with EXIM’s statutory requirements, including the charter prohibition against discrimination based solely on industry, sector or business, and its mission to support U.S. jobs.”

— Elizabeth Lewis, EXIM spokesperson

Why this matters:

EXIM’s continued support for fossil fuel investments raises concerns about the integrity of U.S. commitments to climate change mitigation and the potential impact on global health outcomes due to environmental degradation. This contradiction also highlights the complexity of national policies intersecting with international finance and environmental responsibilities.

The U.S. has much to gain by putting quality of life—rather than "shiny and new"—at the forefront of infrastructure rebuilds.

www.politico.com

Volcanic rock coastline with ocean waves

Credit: Getty Images/Unsplash+

Climate change could send more toxic mining waste into coastal waters, study warns

Demand for metals has exploded in recent decades, thanks to population growth, technological innovation, and economic development. The volume of metal ores like iron and copper extracted globally quadrupled during the last half-century, and the trillion-dollar industry shows no signs of slowing down.

Read the Full Article on

news.mongabay.com

White House at odds with Export-Import Bank's fossil fuel financing

Climate change could send more toxic mining waste into coastal waters, study warns

Climate policies can bring relief on affordability and beyond

Brussels says EU countries partly to blame for failure on key climate rule

As El Niño fuels drought in Panama, trees help ranchers maintain their water supply

Gavin Newsom and Arnold Schwarzenegger tout California’s role as a climate leader

Opinion: ‘Digger,’ Tom Cruise’s big flop, is a secret masterpiece

Alberta’s fracking boom, in photos

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

“They're terrorizing these scientists because they want to keep them silent.”

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.