12 U.S.C. § 635i–5 | Environmental policy and procedures

(a)

Environmental effects consideration

(1)

In general

section 635(b)(1)(A) of this title section 1905 of title 18Consistent with the objectives of , the Bank shall establish procedures to take into account the potential beneficial and adverse environmental effects of goods and services for which support is requested under its direct lending and guarantee programs. Such procedures shall provide for the public disclosure of environmental assessments and supplemental environmental reports required to be submitted to the Bank, including remediation or mitigation plans and procedures, and related monitoring reports. The preceding sentence shall not be interpreted to require the public disclosure of any information described in . Such procedures shall apply to any transaction involving a project—

(A)

June 28, 2012 for which long-term support of $25,000,000 (or, if less than $25,000,000, the threshold established pursuant to international agreements, including the Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence, as adopted by the Organisation for Economic Co-operation and Development Council on , and the risk-management framework adopted by financial institutions for determining, assessing, and managing environmental and social risk in projects (commonly referred to as the “Equator Principles”)) or more is requested from the Bank;

(B)

for which the Bank’s support would be critical to its implementation; and

(C)

which may have significant environmental effects upon the global commons or any country not participating in the project, or may produce an emission, an effluent, or a principal product that is prohibited or strictly regulated pursuant to Federal environmental law.

(2)

Authority to withhold financing

The procedures established under paragraph (1) shall permit the Board of Directors, in its judgment, to withhold financing from a project for environmental reasons or to approve financing after considering the potential environmental effects of a project.

(b)

Use of Bank programs to encourage certain exports

(1)

In general

The Bank shall encourage the use of its programs to support the export of goods and services that have beneficial effects on the environment or mitigate potential adverse environmental effects (such as exports of products and services used to aid in the monitoring, abatement, control, or prevention of air, water, and ground contaminants or pollution, or which provide protection in the handling of toxic substances, subject to a final determination by the Bank, and products and services for foreign environmental projects dedicated entirely to the prevention, control, or cleanup of air, water, or ground pollution, including facilities to provide for control or cleanup, and used in the retrofitting of facility equipment for the sole purpose of mitigating, controlling, or preventing adverse environmental effects, subject to a final determination by the Bank). The Board of Directors shall name an officer of the Bank to advise the Board on ways that the Bank’s programs can be used to support the export of such goods and services. The officer shall act as liaison between the Bank and other Federal Government agencies, including the agencies whose representatives are members of the Environmental Trade Promotion Working Group of the Trade Promotion Coordinating Committee, with respect to overall United States Government policy on the environment.

(2)

Limitations on authorization of appropriations

section 661a(5) of title 2In addition to other funds available to support the export of goods and services described in paragraph (1), there are authorized to be appropriated to the Bank not more than $35,000,000 for the cost (as defined in ) of supporting such exports. If, in any fiscal year, the funds appropriated in accordance with this paragraph are not fully utilized due to insufficient qualified transactions for the export of such goods and services, such funds may be expended for other purposes eligible for support by the Bank.

(c)

Inclusion in report to Congress

The Bank shall provide in its annual report to the Congress a summary of its activities under subsections (a) and (b).

(d)

Interpretation

Nothing in this section shall be construed to create any cause of action.

July 31, 1945, ch. 341, § 11 Pub. L. 102–429, title IOct. 21, 1992106 Stat. 2189 Pub. L. 103–428, § 2(a)Oct. 31, 1994108 Stat. 4376 Pub. L. 109–438, § 18(b)Dec. 20, 2006120 Stat. 3281 Pub. L. 114–94, div. E, title LIV, § 54002(d)Dec. 4, 2015129 Stat. 1769(, formerly § 17, as added and renumbered § 11, , §§ 106, 121(c)(5), , , 2199; amended , , ; , , ; , , .)

Editorial Notes

Codification

act July 31, 1945, ch. 341 section 635i–8 of this titleAnother section 11 of , was renumbered section 14 and is classified to .

Prior Provisions

act July 31, 1945, ch. 341 section 635h of this titleA prior section 11 of , was renumbered section 9 and is classified to .

Amendments

Pub. L. 114–94June 28, 20122015—Subsec. (a)(1)(A). substituted “$25,000,000 (or, if less than $25,000,000, the threshold established pursuant to international agreements, including the Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence, as adopted by the Organisation for Economic Co-operation and Development Council on , and the risk-management framework adopted by financial institutions for determining, assessing, and managing environmental and social risk in projects (commonly referred to as the ‘Equator Principles’)) or more” for “$10,000,000 or more”.

Pub. L. 109–438 section 1905 of title 182006—Subsec. (a)(1). inserted after first sentence “Such procedures shall provide for the public disclosure of environmental assessments and supplemental environmental reports required to be submitted to the Bank, including remediation or mitigation plans and procedures, and related monitoring reports. The preceding sentence shall not be interpreted to require the public disclosure of any information described in .”

Pub. L. 103–4281994—Subsec. (b). inserted par. (1) designation and heading, inserted before period at end of first sentence “(such as exports of products and services used to aid in the monitoring, abatement, control, or prevention of air, water, and ground contaminants or pollution, or which provide protection in the handling of toxic substances, subject to a final determination by the Bank, and products and services for foreign environmental projects dedicated entirely to the prevention, control, or cleanup of air, water, or ground pollution, including facilities to provide for control or cleanup, and used in the retrofitting of facility equipment for the sole purpose of mitigating, controlling, or preventing adverse environmental effects, subject to a final determination by the Bank)”, and added par. (2).

Statutory Notes and Related Subsidiaries

Effective Date of 2015 Amendment

Pub. L. 114–94 section 54002(e) of Pub. L. 114–94 section 635 of this titleAmendment by applicable with respect to fiscal year 2016 and each fiscal year thereafter, see , set out as a note under .