US Ex-Im adopts carbon policy

The US Export-Import (Ex-Im) Bank has adopted what it claims is the first comprehensive carbon policy for an export credit agency (ECA) and has set up a $250 million facility to back renewables exports. However, environmental NGOs said the policy lacks ambition – and merely reflects a legal settlement Ex-Im agreed earlier in the year.

The policy offers scant details, but promises to increase its support and add incentives for renewable energy and energy efficiency projects. Ex-Im Bank also promises to “explore ways to further improve its transparency in the tracking and reporting of CO2 [carbon dioxide] emissions from projects it supports”.

The US ECA has also promised to lobby the OECD for financing incentives aimed at low-carbon projects, a common methodology for taking account of the social cost of carbon in the projects ECAs support and disincentives for fossil fuel projects.

(Click to read entire article)


Blogger Template by Blogcrowds

Copyright 2006| Blogger Templates by GeckoandFly modified and converted to Blogger Beta by Blogcrowds.
No part of the content or the blog may be reproduced without prior written permission.