Trade Compliance Blog

The Export-Import Bank of the United States has established a $250 million credit facility to finance renewable energy exports, including solar, wind and geothermal energy as part of a new carbon policy the federal credit agency announced on Nov. 3.

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“We want to help American manufacturers produce green technology for the world. This common sense approach is good for the environment.  It`s good for business, and it`s good for American workers,” said Fred P. Hochberg, chairman and president of Ex-Im Bank.

“We look forward to working with the Export-Import Bank on implementation of
their Carbon Policy,” said Nancy Sutley, Chair of the White House Council on
Environmental Quality. “The Board’s approval of their Carbon Policy is an
important step toward greater transparency and enhanced environmental
stewardship.”

Included in the policy is a commitment to explore ways to further improve the Bank`s transparency in the tracking and reporting of CO2 emissions from projects that it supports.

The policy also commits the Bank to be a leader in financing of climate-friendly technologies made by American workers, including those that reduce greenhouse gas emissions and increase energy efficiency.

Ex-Im Bank also committed to advocate in the Organization for Economic Cooperation and Development (OECD) for the creation of financing incentives for low to zero CO2-emitting projects, a common methodology for evaluating and taking into account the social cost of carbon, and disincentives for high intensity fossil fuel projects. The Bank initiated its efforts involving the OECD within hours of the Carbon Policy`s approval.

Read more about this story at Reuters.
Visit the Export-Import Bank’s website to read the complete Carbon Policy.

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customs compliance, export compliance, trade compliance by Caroline