Is the US Export-Import Bank aligned with US climate policy?


Tuesday, October 17, 2023
11:00AM – 12:30PM (ET)

Join Oxfam and Perspectives Climate Research on Tuesday, October 17th for the release of our joint publication examining the extent to which the Export-Import Bank of the United States (EXIM) is aligned with US climate policy and decarbonization goals. In 2021, the US announced a new International Climate Finance Plan to tackle the climate crisis at home and abroad and steer US public funding away from fossil fuels and toward renewable energy. But EXIM is at risk of undermining the Administration’s climate efforts. EXIM continues to provide billions of dollars in support to fossil fuel projects and exports globally and has set only modest clean energy financing targets. Learn how EXIM must shift its financing practices to be able to support American exporters that genuinely advance the global climate transition at home and abroad.

Featured Speakers

Tawanda Mutasah

Tawanda Mutasah

[Opening Remarks] Vice President of Global Partnerships & Impact, Oxfam


Igor Shishlov

Head of Climate Finance, Perspectives Climate Research (report co-author)


Kate DeAngelis

Senior International Finance Program Manager, Friends of the Earth


Elizabeth Deane-Hughes

Guyanese lawyer and civil society activist

Daniel Mulé Headshot

Daniel Mulé

[Moderator] Policy and Program Manager, Just Energy Transition and Extractives, Oxfam

Other speakers to be confirmed.

Export credit agencies, like EXIM, have the mandate to support national businesses abroad when the private sector is unable or unwilling to provide export financing through loans, guarantees and insurance – this includes financing in politically riskier geographies and riskier sectors like fossil fuels. Today, EXIM and other export credit agencies are the single largest group of public finance institutions supporting fossil fuel investments around the world.

While the Biden Administration has committed to scaling up climate finance in the International Climate Finance Plan and executive orders, EXIM continues to approve financing for overseas fossil fuel projects – most recently, a $100 million loan for an oil refinery in Indonesia. EXIM does not discriminate its support based on climate or development impacts. But in the context of an unfolding climate crisis, such market neutrality is untenable. And while EXIM has the objective of channeling at least 5% of its total financing each year to renewable energy, this modest objective is yet to be achieved. Join us as we examine these challenges and the need to chart a new course for this public institution. Facebook Twitter Instagram YouTube Google+