12 USC 635i-5 - Environmental policy and procedures

U.S Code last checked for updates: May 08, 2024

§ 635i–5.

Environmental policy and procedures

(a)

Environmental effects consideration

(1)

In general

Consistent with the objectives of section 635(b)(1)(A) of this title, 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 section 1905 of title 18. Such procedures shall apply to any transaction involving a project—

(A)

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 June 28, 2012, 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

(b)

Use of Bank programs to encourage certain exports

(1)

In general

(2)

Limitations on authorization of appropriations

(c)

Inclusion in report to Congress

(d)

Interpretation

(July 31, 1945, ch. 341, § 11, formerly § 17, as added and renumbered § 11, Pub. L. 102–429, title I, §§ 106, 121(c)(5), Oct. 21, 1992, 106 Stat. 2189, 2199; amended Pub. L. 103–428, § 2(a), Oct. 31, 1994, 108 Stat. 4376; Pub. L. 109–438, § 18(b), Dec. 20, 2006, 120 Stat. 3281; Pub. L. 114–94, div. E, title LIV, § 54002(d), Dec. 4, 2015, 129 Stat. 1769.)

cite as: 12 USC 635i-5