I 
110TH CONGRESS 
2D SESSION 
H. R. 7160 
To authorize United States participation in, and appropriations for the United 
States contribution to, an international clean technology fund, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 26, 2008 
Ms. MOORE of Wisconsin (for herself, Mr. FRANK of Massachusetts, Mr. 
ISRAEL, and Mr. SHAYS) introduced the following bill; which was referred 
to the Committee on Financial Services 
A BILL 
To authorize United States participation in, and appropria-
tions for the United States contribution to, an inter-
national clean technology fund, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. INTERNATIONAL CLEAN TECHNOLOGY FUND. 
(a) IN GENERAL.—The Bretton Woods Agreements 
Act (22 U.S.C. 286–286oo) is amended by adding at the 
end the following: 
‘‘SEC. 64. CLEAN TECHNOLOGY FUND. 
‘‘(a) CONTRIBUTION AUTHORITY.— 
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‘‘(1) IN
GENERAL.—The Secretary of the 
Treasury may contribute on behalf of the United 
States $400,000,000 to a fund, as described in sub-
section (b) (in this section referred to as the ‘Clean 
Technology Fund’). 
‘‘(2) LIMITATIONS ON AUTHORIZATION OF AP-
PROPRIATIONS.—For the contribution authorized by 
paragraph (1), there is authorized to be appro-
priated not more than $400,000,000 for fiscal year 
2009. 
‘‘(b) REQUIREMENTS.—The requirements of this sub-
section are as follows: 
‘‘(1) ADMINISTRATION.—The Clean Technology 
Fund is established and administered by the Bank. 
‘‘(2) PURPOSE.—The purpose of the Clean 
Technology Fund is to promote accelerated deploy-
ment in developing countries of technologies that will 
substantially reduce greenhouse gas emissions, by 
providing funds, primarily through multilateral de-
velopment banks to promising projects in developing 
countries. 
‘‘(3) COORDINATION
WITH
THE
UNITED
NA-
TIONS
FRAMEWORK
CONVENTION
ON
CLIMATE 
CHANGE.— 
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‘‘(A) IN GENERAL.—The Clean Technology 
Fund is required to operate in a manner that 
is fully consistent and supportive of the United 
Nations Framework Convention on Climate 
Change (in this paragraph referred to as the 
‘UNFCCC’). 
‘‘(B) TERMINATION OF OPERATIONS.—The 
Bank is required to take necessary steps to con-
clude the operations of the Clean Technology 
Fund (including by not entering into new agree-
ments for contributions to the Clean Tech-
nology Fund) on the commencement of oper-
ations of an international clean technology fund 
provided for by the UNFCCC, unless the out-
come of the UNFCCC negotiations indicates 
otherwise. 
‘‘(4) AUTHORITY
TO
HOLD
UNDISBURSED 
FUNDS IN INTEREST-BEARING ACCOUNTS.—Pending 
disbursement from the Clean Technology Fund of 
amounts provided under this section, the Bank has 
the authority to hold the amounts in interest-bearing 
accounts of the Clean Technology Fund. 
‘‘(5) LIMITS ON COUNTRY ACCESS.— 
‘‘(A) 
DISTRIBUTION
OF
FUND
RE-
SOURCES.—The Clean Technology Fund is pro-
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hibited from providing more than approximately 
15 percent of Fund resources to any 1 country. 
‘‘(B) COUNTRY ELIGIBILITY.—In order for 
a country to be eligible for support from the 
Clean Technology Fund, the country must— 
‘‘(i) submit to the governing body of 
the Clean Technology Fund an investment 
plan that will achieve substantial reduc-
tions in national-level greenhouse gas emis-
sions; and 
‘‘(ii) in the case of a country classified 
by the Bank as ‘lower middle income’ or 
above, based on gross national income per 
capita, contribute, from public funds, an 
amount equal to 25 percent of the cost of 
any project for which the country seeks as-
sistance 
from 
the 
Clean 
Technology 
Fund— 
‘‘(I) to the project; or 
‘‘(II) to the Clean Technology 
Fund. 
‘‘(6) 
PROJECT
AND
PROGRAM
REQUIRE-
MENTS.— 
‘‘(A) IN
GENERAL.—Support from the 
Clean Technology Fund is required to be used 
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to cover the incremental costs of deploying 
clean energy technologies that result in substan-
tial and additional reductions from baseline 
greenhouse gas emissions to the atmosphere. 
‘‘(B) 
SELECTION
CRITERIA.—Support 
from the Clean Technology Fund is required to 
be allocated with the principal objectives of— 
‘‘(i) deploying ‘zero carbon’ clean en-
ergy technologies, such as electricity gen-
eration from renewable sources; 
‘‘(ii) maximizing additional reductions 
of greenhouse emissions per dollar of sup-
port provided; 
‘‘(iii) catalyzing a shift within the host 
country towards widespread commercial 
deployment of clean energy technologies; 
and 
‘‘(iv) prioritizing clean technology in-
vestments to proven privately-owned enter-
prises, preferably small and medium-sized 
enterprises. 
‘‘(C) 
LIMITATIONS
ON
COAL-RELATED 
PROJECTS.—The Clean Technology Fund is 
prohibited from providing support for any new 
coal-fired electricity generation facility unless— 
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‘‘(i) the facility utilizes— 
‘‘(I) integrated gasification com-
bined cycle or ultrasupercritical tech-
nology; or 
‘‘(II) another new technology 
(but not subcritical or supercritical 
technology) with an efficiency rating 
equal to or greater than the efficiency 
rating of the technologies referred to 
in subclause (I); 
‘‘(ii) the facility would not use the 
technology so utilized in the absence of 
support from the Clean Technology Fund; 
and 
‘‘(iii) the facility is specifically de-
signed to accommodate retrofitting with 
carbon capture and storage technology 
when the technology becomes ready for 
commercial deployment. 
‘‘(D) DEFINITIONS.—For purposes of this 
paragraph: 
‘‘(i) ADDITIONAL.—The term ‘addi-
tional’ means the extent to which reduc-
tions in greenhouse gas emissions are in-
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cremental to business-as-usual, measured 
as the difference between— 
‘‘(I) the baseline; and 
‘‘(II) net lifecycle greenhouse gas 
emissions resulting from a project or 
program, including, where practicable, 
effects beyond the physical boundaries 
of the project but associated with the 
project activity. 
‘‘(ii) BASELINE.—The term ‘baseline’ 
means the greenhouse gas emissions that 
would have occurred in the absence of a 
project or program. 
‘‘(iii) 
CLEAN
ENERGY
TECH-
NOLOGY.—The term ‘clean energy tech-
nology’ means an energy supply technology 
or an end-use energy efficiency technology 
that, as compared with technologies being 
deployed at that time for widespread com-
mercial use in the country involved— 
‘‘(I) achieves substantial reduc-
tions in lifecycle emissions of green-
house gases, calculated on an appro-
priate per unit basis; and 
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‘‘(II) does not result in signifi-
cant incremental adverse effects on 
public health or the environment. 
‘‘(iv) GREENHOUSE
GAS.—The term 
‘greenhouse gas’ means any of— 
‘‘(I) carbon dioxide; 
‘‘(II) methane; 
‘‘(III) nitrous oxide; 
‘‘(IV) sulfur hexafluoride; 
‘‘(V) a hydrofluorocarbon; or 
‘‘(VI) a perfluorocarbon. 
‘‘(7) TRANSPARENCY.—The Bank and the gov-
erning body of the Clean Technology Fund shall pro-
vide for maximum transparency in all aspects of the 
governance of the Clean Technology Fund, includ-
ing— 
‘‘(A) providing for broad-based input of 
stakeholders in the strategic directions, results, 
and impacts of the Clean Technology Fund, in-
cluding through meetings of interested govern-
ments, multilateral development banks, United 
Nations agencies, the Global Environment Fa-
cility, other multilateral and bilateral climate 
programs, nongovernmental organizations, pri-
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vate sector entities and scientific and technical 
experts; 
‘‘(B) in the case of the governing body, en-
gaging in an active dialogue with representa-
tives of institutions with a mandate to promote 
investments in clean technology to address cli-
mate change, including by extending invitations 
of the institutions to attend meetings of the 
governing body as observers; and 
‘‘(C) in the case of the Bank, maintaining 
a clearly identified web site that includes all 
public information or links to information re-
garding the policies of the Clean Technology 
Fund, projects and programs supported by the 
Clean Technology Fund, minutes of the Trust 
Fund Committee meetings, annual reports of 
the Clean Technology Fund and other result 
measurement documents. 
‘‘(c) UNITED STATES VOTES ON FUND PROPOSALS 
AND UNITED STATES POLICY ON ENVIRONMENTAL AS-
SESSMENTS.—The Secretary of the Treasury shall— 
‘‘(1) direct the United States representative in 
the entity that oversees the operations and activities 
of the Clean Technology Fund to use the voice and 
vote of the United States to oppose any proposal (in-
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cluding any loan, credit, grant, or guarantee) which 
would result in the Clean Technology Fund failing 
to meet the requirements of subsection (b)(3), 
(b)(5), (b)(6), or (b)(7) of this section; and 
‘‘(2) encourage all the multilateral development 
banks to apply environmental assessment procedures 
similar to those described in section 1307 of the 
International Financial Institutions Act (22 U.S.C. 
262m–7) in their consideration and implementation 
of Clean Technology Fund proposals. 
‘‘(d) COORDINATION WITH
THE INTERNATIONAL 
CLEAN ENERGY FOUNDATION.—The Secretary of the 
Treasury shall seek to ensure that the duties and activities 
of the Clean Technology Fund are complementary to the 
duties and activities of the International Clean Energy 
Foundation as established by section 922 of the Energy 
Independence and Security Act of 2007 (42 U.S.C. 
17352).’’. 
(b) REPORT TO THE CONGRESS.—Within 180 days 
after the date of the enactment of this Act, and annually 
thereafter, the Secretary of the Treasury shall submit to 
the Congress a report on the operations of any fund to 
which amounts made available under section 64 of the 
Bretton Woods Agreements Act are provided, including a 
description of— 
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(D) the degree to which the technology was 
a higher-cost technology relative to other avail-
able technologies. 
(c) SENSE OF THE CONGRESS.—It is the sense of the 
Congress that small and medium-sized enterprises— 
(1) are an important source of technological in-
novation and economic development globally; 
(2) can and should play an important role in 
the dissemination and implementation of innovative 
clean technologies in developing countries; and 
(3) should be supported through any fund re-
ferred to in subsection (b). 
SEC. 2. EXPANSION OF CLIMATE CHANGE MITIGATION AC-
TIVITIES OF, AND USE OF GREENHOUSE GAS 
ACCOUNTING BY, THE MULTILATERAL DE-
VELOPMENT BANKS. 
Title XIII of the International Financial Institutions 
Act (22 U.S.C. 26m—262m–7) is amended by adding at 
the end the following: 
‘‘SEC. 1308. EXPANSION OF CLIMATE CHANGE MITIGATION 
ACTIVITIES OF, AND USE OF GREENHOUSE 
GAS ACCOUNTING BY, THE MULTILATERAL 
DEVELOPMENT BANKS. 
‘‘(a) USE OF GREENHOUSE GAS ACCOUNTING.—The 
Secretary of the Treasury shall seek to ensure that each 
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multilateral development bank (as defined in section 
1701(c)(4)) adopts and implements greenhouse gas 
(GHG) accounting in analyzing the benefits and costs of 
individual projects (excluding those with de minimus 
greenhouse gas emissions) for which funding is sought 
from the bank. 
‘‘(b) SENSE OF THE CONGRESS.—It is the sense of 
the Congress that adopting and implementing GHG ac-
counting includes— 
‘‘(1) calculating net GHG flows; 
‘‘(2) establishing uniform calculation tech-
niques, with provision for modification as profes-
sional standards evolve; 
‘‘(3) making public the calculation techniques 
and the calculations; 
‘‘(4) measuring GHG emissions of individual 
projects, and considering global social costs of the 
emissions when evaluating the economic costs and 
benefits of the projects; and 
‘‘(5) performing GHG accounting for each 
project. 
‘‘(c) EXPANSION OF CLIMATE CHANGE MITIGATION 
ACTIVITIES.—The Secretary of the Treasury shall work 
to ensure that the multilateral development banks (as de-
fined in section 1701(c)(4) of the International Financial 
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Institutions Act) expand their activities supporting climate 
change mitigation by— 
‘‘(1) expending support for energy efficiency 
and renewable energy investments; 
‘‘(2) reviewing all proposed infrastructure in-
vestments to ensure all opportunities for integrating 
viable energy efficiency measures have been consid-
ered; and 
‘‘(3) increasing their dialogue with developing 
country governments on analysis and policy meas-
ures needed for low-carbon-emission economic devel-
opment, including on reforms needed to promote pri-
vate sector engagement in renewable and energy effi-
ciency investments, and integrate low-carbon-emis-
sion economic development objectives into multilat-
eral development bank country strategies. 
‘‘(d) REPORT TO CONGRESS.—Within 1 year after 
the date of the enactment of this section, and annually 
thereafter, the Secretary of the Treasury shall submit to 
the Committee on Financial Services of the House of Rep-
resentatives and the Committee on Foreign Relations of 
the Senate a report on the status of efforts to implement 
this section.’’. 
Æ 
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