22 USC 7909 - Authorization for the Clean Technology Fund

U.S Code last checked for updates: Nov 26, 2024

§ 7909.

Authorization for the Clean Technology Fund

(1)

Limitations on authorization of appropriations

(2)

Limits on country access

The Secretary of the Treasury shall use the voice and vote of the United States to ensure that—

(A)

The Fund does not provide more than 15 percent of Fund resources to any one country;

(B)

Prior to the obligation of funds, recipient countries submit to the governing body of the Fund, and the governing body of the Fund appropriately reviews and considers, an investment plan that will achieve significant net reductions in national-level greenhouse gas emissions;

(C)

The investment plan for a recipient country, whose borrowing status is classified by the World Bank as “International Development Association (IDA) blend”, shall have at least 15 percent of its total cost for public sector activities contributed from the public funds of the recipient country, and any recipient country whose borrowing status is classified by the World Bank as “International Bank for Reconstruction and Development (IBRD) Only” status, shall have at least 25 percent of its total cost for public sector activities contributed from public funds of the recipient country; and

(D)

Assistance made available by 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 net reductions in greenhouse gas emissions.

(3)

Repealed. Pub. L. 113–76, div. K, title VII, § 7034(i), Jan. 17, 2014, 128 Stat. 514

(4)

Definitions

For purposes of this section—

(A)

Net reductions

(B)

Public sector activities

(C)

Clean energy technology

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—

(i)

achieves substantial reductions in greenhouse gas emissions;

(ii)

does not result in significant incremental adverse effects on public health or the environment; and

(iii)

does one or more of the following:

(I)

generates electricity or useful thermal energy from a renewable resource;

(II)

substantially increases the energy efficiency of buildings, industrial, or agricultural processes, or of electricity transmission, distribution, or end-use consumption; or

(III)

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.

(Pub. L. 111–117, div. F, title VII, § 7081(g), Dec. 16, 2009, 123 Stat. 3398; Pub. L. 113–76, div. K, title VII, § 7034(i), Jan. 17, 2014, 128 Stat. 514.)

cite as: 22 USC 7909