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CGD in the News

Congress Scraps Support for Clean Technology Program that Funds Coal (Climate Wire)

February 25, 2009

Climate Wire cites CGD's calls for a Clean Technology Fund for renewables energy projects.

From the article:

""In effect, now, the U.S. has dropped out," said David Wheeler, a senior fellow at the Center for Global Development. "This is bad, and we've been warning the bank to drop this provision regarding coal, because it was clear what was coming."

World Bank officials did not respond yesterday to a request for comment, and it remains unclear what the move from Congress will mean for Japan, the United Kingdom and other nations that are beginning to make good on funding pledges. There is a chance that the Senate could restore the money to the $410 billion catchall spending bill for 2009, but activists said it is unlikely.

"This was a very important signal, and colleagues in Europe were waiting to see what the U.S. would do," Wheeler said. "It's hard for me to see how, given the new posture of the administration on climate, the Europeans and the Japanese are going to maintain fidelity to the Clean Technology Fund."

Read the article