II 

116TH CONGRESS 

2D SESSION S. 4834 

To require the use of the voice and vote of the United States in international 

financial institutions to advance the cause of transitioning the global 

economy to a clean energy economy and to prohibit United States Government assistance to countries or entities to support fossil fuel activity, 

and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

OCTOBER 21 (legislative day, OCTOBER 19), 2020 

Mr. MERKLEY introduced the following bill; which was read twice and referred 

to the Committee on Foreign Relations 

A BILL 

To require the use of the voice and vote of the United 

States in international financial institutions to advance 

the cause of transitioning the global economy to a clean 

energy economy and to prohibit United States Government assistance to countries or entities to support fossil 

fuel activity, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Sustainable Inter5 national Financial Institutions Act of 2020’’. 


pbinns on DSKJLVW7X2PROD with BILLS
2 

•S 4834 IS

1 SEC. 2. CLEAN ENERGY AND CLIMATE JUSTICE AT INTER2 NATIONAL FINANCIAL INSTITUTIONS. 

3 The International Financial Institutions Act (22 

4 U.S.C. 262c et seq.) is amended by adding at the end the 

5 following: 

6 ‘‘TITLE XX—CLEAN ENERGY AND 

7 CLIMATE JUSTICE 

8 ‘‘SEC. 2001. CLEAN ENERGY AND CLIMATE JUSTICE. 

9 ‘‘(a) IN GENERAL.—The United States Executive Di10 rectors of the international financial institutions specified 

11 in subsection (c) shall use the voice and vote of the United 

12 States in those institutions— 

13 ‘‘(1) to advance the cause of reducing carbon 

14 emissions and transitioning the global economy to a 

15 clean energy economy, including by seeking to chan16 nel assistance toward countries and entities that are 

17 building clean and sustainable energy systems; and 

18 ‘‘(2) to oppose any loan or extension of finan19 cial or technical assistance to any country or entity 

20 to create new capacity for fossil fuel activity. 

21 ‘‘(b) REDUCTION IN CONTRIBUTIONS.—The Sec22 retary of the Treasury shall reduce the contribution of the 

23 United States to an international financial institution 

24 specified in subsection (c) in a fiscal year by the amount 

25 of any loans or extensions of financial or technical assist26 ance provided by the institution to any country or entity 


pbinns on DSKJLVW7X2PROD with BILLS
3 

•S 4834 IS

1 to create new capacity for fossil fuel activity during that 

2 fiscal year. 

3 ‘‘(c) INTERNATIONAL FINANCIAL INSTITUTIONS

4 SPECIFIED.—The international financial institutions spec5 ified in this subsection are the following: 

6 ‘‘(1) The International Bank for Reconstruction 

7 and Development. 

8 ‘‘(2) The International Development Associa9 tion. 

10 ‘‘(3) The International Finance Corporation. 

11 ‘‘(4) The Multilateral Investment Guarantee 

12 Agency. 

13 ‘‘(5) The African Development Fund. 

14 ‘‘(6) The African Development Bank. 

15 ‘‘(7) The Asian Development Fund. 

16 ‘‘(8) The Asian Development Bank. 

17 ‘‘(9) The European Bank for Reconstruction 

18 and Development. 

19 ‘‘(10) The Inter-American Development Bank. 

20 ‘‘(11) The Inter-American Development Bank 

21 Invest. 

22 ‘‘(12) The North American Development Bank. 

23 ‘‘(d) DEFINITIONS.—In this section: 

24 ‘‘(1) FOSSIL FUEL ACTIVITY.—The term ‘fossil 

25 fuel activity’ means the exploration, development, 


pbinns on DSKJLVW7X2PROD with BILLS
4 

•S 4834 IS

1 mining or production, processing, refining, transpor2 tation (including pipelines transporting gas, oil, or 

3 products thereof), distribution, or marketing of, or 

4 the construction or operation of plants for the proc5 essing or refining of, coal, petroleum, natural gas, or 

6 any derivative of coal, petroleum, or natural gas that 

7 is used for fuel. 

8 ‘‘(2) FOSSIL FUEL RESOURCE.— 

9 ‘‘(A) IN GENERAL.—The term ‘fossil fuel 

10 resource’ means all forms of coal, oil, and gas. 

11 ‘‘(B) INCLUSIONS.—The term ‘fossil fuel 

12 resource’ includes— 

13 ‘‘(i) bitumen from oil sands; 

14 ‘‘(ii) kerogen from oil shale; 

15 ‘‘(iii) liquids manufactured from coal; 

16 ‘‘(iv) coal bed methane; 

17 ‘‘(v) methane hydrates; 

18 ‘‘(vi) light oil derived from shale or 

19 other formations; 

20 ‘‘(vii) natural gas liquids; and 

21 ‘‘(viii) all conventionally and uncon22 ventionally produced hydrocarbons.’’. 


pbinns on DSKJLVW7X2PROD with BILLS
5 

•S 4834 IS

1 SEC. 3. PROHIBITION ON FOREIGN ASSISTANCE THAT 

2 WOULD SUPPORT FOSSIL FUEL ACTIVITY. 

3 The United States may not provide any loan, insur4 ance, guarantee, or extension of financial or technical as5 sistance to any country or entity for any fossil fuel activity 

6 (as defined in section 2001(d) of the International Finan7 cial Institutions Act, as added by section 2), including 

8 through the United States International Development Fi9 nance Corporation, the Export-Import Bank of the United 

10 States, the Trade and Development Agency, the United 

11 States Agency for International Development, or the Mil12 lennium Challenge Corporation. 

Æ 


pbinns on DSKJLVW7X2PROD with BILLS