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119-hr-5952119th CongressWALLET

Sustainable International Financial Institutions Act of 2025

Sponsored By: Representative Huffman, Jared [D-CA-2]

Introduced

Summary

Steers U.S. power at international financial institutions to stop financing fossil fuels and push a global shift to clean energy. The bill makes U.S. directors at specified IFIs use their voice and vote to advance greenhouse gas reductions and block any support that creates or expands fossil fuel activity.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 1 costs, 1 mixed.

Limits on U.S. fossil-fuel finance

If enacted, the bill would bar the United States from giving loans, insurance, guarantees, or technical help for any fossil fuel activity abroad. The ban would apply even when assistance flows through other banks or intermediaries and would cover DFC, the Export-Import Bank, the Trade and Development Agency, USAID, and the Millennium Challenge Corporation. The bill would also require Treasury to cut U.S. contributions to listed banks by the amount those banks financed new fossil-fuel capacity in the prior year. The cut money would go into an escrow account and be released only after the Secretary certifies the bank stopped funding new fossil fuel capacity. Treasury must report to Congress within 120 days after placing money into escrow and then each year until release.

U.S. voting rules at global banks

If enacted, the bill would make Title XX apply to 12 named international banks, including World Bank groups and regional development banks. It would define "fossil fuel" and "fossil fuel activity" to cover mining, refining, pipelines, combustion, and specific fuels like oil-sands bitumen. It would require U.S. Executive Directors at those banks to push for lower greenhouse gas emissions and more clean energy funding. It would also require them to oppose loans, policy changes, or aid that create or extend fossil fuel capacity and to support phasing out funding for internal combustion engines by 2031 in a way that protects mobility-challenged communities.

Sponsors & CoSponsors

Sponsor

Huffman, Jared [D-CA-2]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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