Sec. 213. Enhancing United States leadership and competitiveness in advancing global clean energy development
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The Secretary of the Treasury may contribute annually on behalf of the United States $225,000,000 to the Clean Technology Fund managed by the World Bank (in this section referred to as the Fund ). The Secretary of the Treasury shall use the voice, vote, and influence of the United States to ensure that— the Fund does not provide more than approximately 15 percent of the resources of the Fund to any one country; and each country that receives amounts from the Fund submit to the governing body of the Fund an investment plan that— will achieve significant reductions in national-level greenhouse gas emissions; and in the case of a country that is not classified by the World Bank as having a low-income economy, provides for not less than 15 percent of the total cost of the plan to be contributed from the public funds of the country.
The Secretary of the Treasury shall use the voice, vote, and influence of the United States to ensure that support from the Fund is used exclusively to support the deployment of clean energy technologies in developing countries (including, where appropriate, through the provision of technical support or support for policy or institutional reforms) in a manner that achieves substantial additional reductions in greenhouse gas emissions. In this subsection: The term additional refers to the extent to which a project or program supported under this subsection results in lower greenhouse gas emissions than would have occurred in the absence of the project or program, taking into account, to the extent practicable, effects beyond the physical boundaries of the project or program that result from project or program activities.
The term clean energy technology means a technology that, as compared with technologies being deployed at that time for widespread commercial use in the country involved does the following: Achieves substantial reductions in greenhouse gas emissions. Does not result in significant incremental adverse effects on public health or the environment. Does one or more of the following: Generates electricity or useful thermal energy from a non-fossil renewable resource. Substantially increases the energy efficiency of buildings or industrial processes, or of electricity transmission, distribution, or end-use consumption.
Substantially increases the energy efficiency of the transportation system or increases utilization of transportation fuels that have lifecycle greenhouse gas emissions that are substantially lower than those attributable to fossil fuel-based alternatives. Not later than 240 days after the date of the enactment of this Act, and annually thereafter, the Secretary of the Treasury shall submit to the Committee on Foreign Relations and the Committee on Finance of the Senate and the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives a report describing— the purpose of and progress on each project supported by the Fund; and how each such project furthers the investment plan described in subsection (b)(2) of each country in which the project is implemented.