EXIM - OPIC Lawsuit

MoneyIn a groundbreaking global warming lawsuit, Friends of the Earth, Greenpeace, and four cities are charging that the Export-Import Bank (Ex-Im) and the Oversees Private Investment Corporation (OPIC) have provided financial assistance to oil and other fossil fuel projects without first evaluating the projects' global warming impacts. The cities of Oakland, Arcata and Santa Monica, Calif. and Boulder, Colo. are parties to the suit.

The lawsuit alleges that Ex-Im and OPIC illegally provided over $32 billion in financing and insurance for oil fields, pipelines and coal-fired power plants over 10 years without assessing their contribution to global warming, or their impact on the US environment as required under the National Environmental Policy Act (NEPA).

Recent Update In a landmark court decision in August 2005, the plaintiffs were granted legal standing to proceed with the case (see description and link to decision below). On April 14, 2006, the merits of the lawsuit were heard in U.S. District Court for the Northern District of California, and the parties are awaiting a decision.

View legal documents related to the recent court proceedings: