ExIm, OPIC Ink Watershed Settlement

Law360, New York (February 6, 2009, 12:00 AM EST) -- In a landmark event for global warming litigation, two federal investment and insurance agencies have agreed to take greenhouse gas emissions into account before financing overseas energy projects, settling a long-running lawsuit by environmental groups and municipalities.

Under the settlement, filed Friday in the U.S. District Court for the Northern District of California, the Export-Import Bank of the United States and the Overseas Private Investment Corp. will consider the environmental impacts of the fossil fuel projects they finance abroad.

The deal not only creates a new...
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