The World Bank and IFC decisions after the Paris Climate Change Accords to reduce or eliminate support of coal and other major carbon-emitting projects has drastically changed the conversation around major international oil- and gas-related projects, including marine terminals, international pipelines and port expansions as well as how to address oil spill legacy related impacts. The authors provide a primer on World Bank environmental guidelines and IFC “Equator Principles” and an update on how recent policy decisions are being implemented and how they have effect project cancellations and uncertainty around international oil spill cleanups. The authors also discuss opportunities for US firms to help with such cleanups.

Primary Author / Conference Presenter:
Richard Bost
12M Associates, LLC
Waller, Texas, USA

Lori Magyar, Auradon Consulting, Katy, Texas, USA