Ex-Im Bank revises guidelines for financing coal-fired power plants

Emissions

The Export-Import Bank of the U.S. (Ex-Im) bank revised its guidelines Thursday to require the use of carbon capture and storage technology to secure bank financing for coal-fired plants in most countries. The bank stated in a release the changes align bank policies with President Barack Obama’s goal of reducing carbon pollution.

The revised guidelines would still allow flexibility for the bank with respect to the energy needs of the poorest countries in the world.

According to the bank, the guideline revisions are not designed to impact mining projects or coal exports produced by U.S. coal miners and would maintain the bank’s focus on creating and supporting American export-related jobs.

Although the U.S. Environmental Protection Agency has released rules that would limit carbon emissions from fossil fuel-fired power plants, Ex-Im Chairman and President Fred Hochberg said the U.S. cannot reduce emissions alone, and he supports the Obama administration’s efforts to “build an international consensus such that other nations follow our lead in restricting financing of new coal-fired power plants

The World Bank made a move earlier this year to limit financing to new coal-fired power projects.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...