Washington (November 13, 2024) – Senator Edward J. Markey (D-Mass.), Chair of the Senate Environment and Public Works Subcommittee on Climate, Clean Air, and Nuclear Safety, and Representative Veronica Escobar (TX-16), a member of the House Armed Services Committee, today introduced the Targeting Environmental and Climate Recklessness Act (TECRA), legislation to restrict access to the U.S. financial system for those individuals and companies most responsible for exacerbating climate change and deforestation. The legislation would also ensure that existing human rights and sanctions under the Global Magnitsky Sanctions Program cover corruption that results in climate-damaging projects, as well as human rights abuses of environment defenders. The Global Magnitsky Sanctions Program was established under the Global Magnitsky Human Rights Accountability Act to authorize the U.S. government to hold those who violate human rights accountable for their abuse and corruption. Senator Elizabeth Warren (D-Mass.) is a cosponsor of the legislation.
The United States has successfully restricted financial access for foreign individuals and companies involved in egregious behaviors, including cybercrime, human rights abuses, corruption, and wildlife trafficking, yet no restriction exists for the people and entities destroying our environment. As nations gather for the international climate negotiations in Azerbaijan, it is more important than ever to develop tools to hold to account the people and companies responsible for the worst pollution, deforestation, and abuses against environmental defenders.
“The outsized effects of climate change continue to threaten our homes, communities, and neighborhoods. We must use every tool at our disposal to prevent and address harm to the environment, including holding environmentally destructive companies and individuals accountable,” said Senator Markey. “This legislation is the first step in developing a global partnership that holds these polluters accountable and keeps our climate and environmental defenders safe.”
“We are living in the midst of a climate crisis that can no longer be ignored and must be addressed with urgency and bold action,” said Representative Escobar. “As the Biden administration and Congress continue pushing progress at home, it is imperative that we also ensure we have strong foreign policy tools to hold accountable bad foreign actors who engage in reckless behaviors that exacerbate this existential threat. I am proud to introduce the Targeting Environmental and Climate Recklessness Act alongside Senator Markey – a climate champion – to meet the moment and protect our planet for future generations.”
The Targeting Environmental and Climate Recklessness Act (TECRA) legislation specifically:
"Sanctions are one of the U.S. government's most powerful tools for fighting corruption, defending human rights, and encouraging responsible behavior in the global economy. With all of the unprecedented risks that climate change poses to U.S. economic and national security interests -- and with climate impacts already growing in severity each year -- the U.S. government should be using its strongest tools available to help prevent disaster. TECRA provides the government with an effective way to scale up its response to the climate crisis,” said Kirk Herbertson, Senior Policy Advisor at EarthRights International.
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