Sustainable International Financial Institutions Act of 2024
This bill requires U.S. representatives at 12 major international financial institutions (including the World Bank, Asian Development Bank, and Inter-American Development Bank) to vote against fossil fuel projects and support clean energy transitions. It mandates that U.S. contributions to these institutions be reduced if they fund new fossil fuel capacity (like oil/gas projects or pipelines), with the withheld funds held in an escrow account until institutions stop such funding. The bill also prohibits U.S. agencies (like USAID and the Export-Import Bank) from providing any foreign assistance for fossil fuel activities or related infrastructure. These changes directly affect how U.S. taxpayer funds are allocated to global development projects managed by these institutions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 10, 2024
Last action Dec 10, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 10, 2024
Committee
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Dec 10, 2024
Introduced
Introduced in House
lower
1 primary · 8 co-sponsors
Sponsors
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