Biden Considers Long-Term Fossil Fuel Finance Restrictions

Diverging views among U.S. officials and the U.S. Export-Import Bank have already caused delays in addressing this issue at the OECD for almost a year.

The Biden administration is contemplating a final effort to secure a global accord aimed at limiting financial backing for overseas oil and gas ventures before pivotal discussions commence in Paris.

Securing this agreement is crucial for President Joe Biden to fulfill a commitment he made during his initial year in office. However, as of the recent weekend, administration officials were still settling on their ultimate negotiation strategy, according to individuals with knowledge of the situation. This leaves a narrow window before Monday’s OECD member talks.