Highlights Would limit government involvement in carbon-intensive projects Stakeholders await details on how exemptions will apply Following through on President Biden’s January executive order calling for the US to develop a plan to help flow capital toward climate aligned investments, the Biden administration has told US embassies to stem support for carbon-intensive energy projects internationally.
The new interim guidance “rules out any US government engagement” related to unabated or partially abated coal generation, according to a cable sent to US embassies overseas earlier in December. It also limits the the government’s engagement internationally on other new fossil fuel projects that are deemed carbon intensive, albeit with some exceptions. The administration’s posture on overseas financial support for fossil fuel infrastructure has been closely watched by proponents and opponents of natural gas, in part because of its implications for […]