EXIM Announces Chair's Council on Climate to Advise on Increasing Support for U.S. Clean Energy Exports
WASHINGTON - In conjunction with President Biden's Leaders Summit on Climate, the Export-Import Bank of the United States (EXIM) today announced the establishment of a Chair's Council on Climate as a subcommittee of the agency's Advisory Committee. This new subcommittee will advise on how to better support U.S. exporters and American jobs in clean energy. EXIM aims to consider this advice as it continues to strive towards meeting its congressional mandates to support and promote environmentally beneficial, renewable energy, energy efficiency and energy storage U.S. exports.
Membership of the Chair's Council on Climate is anticipated to include representatives from clean energy and related U.S. industries, the financial sector, trade associations, labor, academia, think tanks and other private and public sector organizations. EXIM will open the application process in Summer 2021, alongside the application period for EXIM's other advisory committees.
"Export finance plays a vital role in supporting the growth of renewable energy globally, particularly in international markets where official export credit can make a difference by mobilizing private sector financing, while, at the same time, supporting U.S. industry and jobs," said EXIM Acting First Vice President and Vice Chairman James C. Cruse. "EXIM remains committed to our charter mandate to promote and support environmentally beneficial exports, so we are pleased to establish this Chair's Council on Climate. Advice from stakeholders will provide expertise and insights from a wide range of sectors in order to better fulfill our mandates on renewable energy and our mission to support U.S. jobs and competitiveness."
In accordance with its charter and existing congressional mandates, EXIM will also work to identify ways to significantly increase support for U.S. exports that are environmentally beneficial and related to renewable-energy production, energy efficiency and energy storage. EXIM will also partner with the U.S. Department of State and financing agencies including the U.S. Trade and Development Agency and the U.S. International Development Finance Corporation to build a strong pipeline in support of projects in these sectors by expanding the use of existing government resources.
The Export-Import Bank of the United States (EXIM) is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing, including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.