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United States · Bill · S

S. 4834 (116th)

Sustainable International Financial Institutions Act of 2020

referredUnited States· United States Congress· EN

Introduced

21 October 2020

Last action

21 October 2020 · Introduced

Status

Read twice and referred to the Committee on Foreign Relations.

Sponsors

Sen. Merkley, Jeff [D-OR]

Subjects

Energy, Climate

Source updated

14 January 2025

Energy · Climate

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Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 21 October 2020

    Introduced

    Read twice and referred to the Committee on Foreign Relations.

    Source: IntroReferral

  2. 21 October 2020

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 21 October 2020

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 21 October 2020

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  • Introduced in Senate

    summary · EN · 21 October 2020

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Sponsors

Related records

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Sources

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