$2 billion over five years would dedicate an unprecedented amount of United States funding to clean technology in developing countries. It must, however, be emphasized that this will represent a small contribution towards the trillions of dollars necessary to meet global energy demand. Congress must therefore ensure that these resources and the institutions entrusted with managing them are committed to leveraging the greatest impact possible on investment choices in the energy sector worldwide.
US contributions to a World Bank administered clean technology fund
The proposed Congressional appropriation of US$400 million per year over five years to support the deployment of clean energy technologies in developing countries could demonstrate much awaited United States leadership in responding to the global crisis of climate change. If these resources are invested wisely, the benefits will reach under-served communities in developing countries in desperate need of more reliable energy and cleaner air. Successful investments would also demonstrate to United States policymakers, energy producers and investors, the feasibility of reducing energy sector emissions by adopting changes in our own technology mix. If combined with United States policies that cap and reduce domestic emissions, that support a global deal to combat climate change, and that help build the resilience of communities vulnerable to climate change, a significant investment in clean energy would represent an important contribution to avoiding the worst impacts of global warming.