Keeping growing economies green
A House panel begins debate today over how to spend $2 billion requested for an International Clean Technology Fund. Jeremy Hobson reports the fund aims to reduce the green house gas emissions of developing countries.
A wind turbine at sunset (Feng Li/Getty Images)
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Renita Jablonski: Today, a House panel begins debate over how to spend $2 billion. It's money President Bush requested for an International Clean Technology Fund. From Washington, Jeremy Hobson takes a look at where the money might go.
Jeremy Hobson: The Clean Technology Fund aims to reduce the green house gas emissions of developing countries. While they're busy growing their economies, this fund will help them go green, says Jacob Werksman at the World Resources Institute.
Jacob Werksman: Part of that is technologies, so it could be introducing large-scale solar or wind power, and part of it is about improving the policies that make that possible.
The World Bank will likely handle the international fund. The mandate says the money should be used for transformational action.
Kevin Ummel at the Center for Global Development says the fight will be over just what "transformational" means. Environmentalists worry that the World Bank's definition is too lax.
Kevin Ummel: The policies we put in place need to be serious about introducing clean technology right now and very quickly.
The fund will also be a big topic at next month's G-8 summit.
In Washington, I'm Jeremy Hobson for Marketplace.
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