US Exim lags on climate despite Biden’s pledges

(Global Trade Review, London, 2 November 2022) The US Export-Import Bank (US Exim) has become the latest export finance institution to be labelled as unaligned with the Paris Agreement on combatting climate change, despite overall emissions from the projects it backs falling in recent years. US Exim is trailing many of its peers in other developed nations because of its large exposures to the fossil fuel and aviation sectors, has no target to reach net zero greenhouse gas emissions and is not transparent enough on how it is carrying out US government guidance on phasing out support for fossil fuels, according to a report by German think tank Perspectives Climate Group.