"Two Climate Advisers Quit U.S. Export-Import Bank Over Fossil Fuel Plans"

"The bank is set to vote Thursday on financing an oil project in Bahrain, the latest in a string of overseas fossil fuel projects."

"A federal bank that finances projects overseas is set to vote on Thursday on whether to use taxpayer dollars to help drill oil and gas wells in Bahrain, a contentious decision that prompted two of the bank’s climate advisers to resign, according to people with knowledge of their decisions.

The project in Bahrain is one of several controversial overseas fossil fuel projects that the Export-Import Bank of the United States is currently considering.

The two advisers, who sit on an 18-person board that President Biden created to help the bank take climate change into account when making investments, resigned last week after a meeting about the Bahrain project, according to five current and former bank officials, who spoke on the condition that they not be identified because they were not authorized to discuss internal deliberations.

They described mounting frustration among climate advisory board members, who say they are being kept in the dark about upcoming fossil fuel loans and blocked from making recommendations about whether to approve or even modify a particular project."

Lisa Friedman and Hiroko Tabuchi report for the New York Times February 5, 2024.

Source: NYTimes, 02/06/2024