try the government of which is receptive to both domestic 
and foreign private enterprise and to projects in any coun-
try the government of which is willing and able to maintain 
conditions that enable private enterprise to make a full con-
tribution to the development process;’’. 
SEC. 5. CLIMATE CHANGE MITIGATION ACTION PLAN. 
Title IV of chapter 2 of part I of the Foreign Assistance 
Act of 1961 (22 U.S.C. 2191 et seq.) is amended by insert-
ing after section 234A the following new section: 
‘‘SEC. 234B. CLIMATE CHANGE MITIGATION. 
‘‘(a) MITIGATION ACTION PLAN.—The Corporation 
shall, not later than 180 days after the date of the enact-
ment of the Overseas Private Investment Corporation Reau-
thorization Act of 2008, institute a climate change mitiga-
tion action plan that includes the following: 
‘‘(1) CLEAN TECHNOLOGY.— 
‘‘(A) INCREASING
ASSISTANCE.—The Cor-
poration shall establish a goal of substantially 
increasing its support of projects that use, de-
velop, or otherwise promote the use of clean en-
ergy technologies during the 10-year period be-
ginning on the date of the enactment of the Over-
seas Private Investment Corporation Reauthor-
ization Act of 2008. 
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‘‘(B) 
PREFERENTIAL
TREATMENT
TO 
PROJECTS.—The Corporation shall give pref-
erential treatment to evaluating and awarding 
assistance for, and provide greater flexibility in 
supporting, projects that use, develop, or other-
wise promote the use of clean energy technologies. 
‘‘(C) REPORT ON PLAN.—The Corporation 
shall, not later than 180 days after the date of 
the enactment of the Overseas Private Investment 
Corporation Reauthorization Act of 2008, submit 
to the Committees on Foreign Relations and Ap-
propriations of the Senate and the Committees 
on Foreign Affairs and Appropriations of the 
House of Representatives a report on the plan 
developed to carry out subparagraph (A). There-
after, the Corporation shall include in its annual 
report required under section 240A a discussion 
of the plan and its implementation. 
‘‘(2) ENVIRONMENTAL IMPACT ASSESSMENTS.— 
‘‘(A) GREENHOUSE
GAS
EMISSIONS.—The 
Corporation shall, in making an environmental 
impact assessment or initial environmental 
audit for a project under section 231A(b), also 
take into account the degree to which the project 
contributes to the emission of greenhouse gases. 
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‘‘(B) OTHER DUTIES NOT AFFECTED.—The 
requirement provided for under subparagraph 
(A) is in addition to any other requirement, ob-
ligation, or duty of the Corporation. 
‘‘(3) GOALS FOR REDUCING GREENHOUSE GAS 
EMISSIONS.— 
‘‘(A) IN GENERAL.—The Corporation shall 
continue to maintain— 
‘‘(i) a goal for reducing direct green-
house gas emissions associated with projects 
in the Corporation’s portfolio on the date of 
the enactment of the Overseas Private In-
vestment Corporation Reauthorization Act 
of 2008 by 20 percent during the 10-year 
period beginning on such date of enactment; 
and 
‘‘(ii) a goal for limiting annual invest-
ments in projects that have significant 
greenhouse gas emissions after such date of 
enactment in a manner that reduces green-
house gas emissions associated with projects 
in the Corporation’s total portfolio by 20 
percent during the 10-year period beginning 
on such date of enactment. 
‘‘(B) SPECIAL RULES.— 
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‘‘(i) BASELINE.—For purposes of deter-
mining the percentage by which greenhouse 
gas emissions are reduced under subpara-
graph (A), the Corporation shall use the ag-
gregate estimated greenhouse gas emissions 
for projects in the Corporation’s portfolio. 
‘‘(ii) SIGNIFICANT
GREENHOUSE
GAS 
EMISSIONS PROJECTS.—For purposes of this 
paragraph, projects that have significant 
greenhouse gas emissions are projects that 
result in the emission of more than 100,000 
tons of CO2 equivalent each year. 
‘‘(C) 
REPORTING
REQUIREMENTS.—The 
Corporation shall include, in each annual report 
required under section 240A, the following infor-
mation with respect to the period covered by the 
report: 
‘‘(i) The annual greenhouse gas emis-
sions attributable to each project in the Cor-
poration’s active portfolio that has signifi-
cant greenhouse gas emissions. 
‘‘(ii) The estimated greenhouse gas 
emissions for each new project that has sig-
nificant greenhouse gas emissions for which 
the Corporation provided insurance, rein-
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surance, a guaranty, or financing, since the 
previous report. 
‘‘(iii) The extent to which the Corpora-
tion is meeting the goals described in sub-
paragraph (A) for reducing greenhouse gas 
emissions. 
‘‘(iv) Each new project for which the 
Corporation provided insurance, reinsur-
ance, a guaranty, or financing, that in-
volves 
renewable 
energy 
and 
environ-
mentally beneficial products and services, 
including increased clean energy technology. 
‘‘(b) EXTRACTION INVESTMENTS.— 
‘‘(1) PRIOR
NOTIFICATION
TO
CONGRESSIONAL 
COMMITTEES.— 
‘‘(A) IN GENERAL.—The Corporation shall 
provide notice of consideration of approval of a 
project described in subparagraph (B) to the 
Committees on Foreign Relations and Appro-
priations of the Senate and the Committees on 
Foreign Affairs and Appropriations of the House 
of Representatives not later than 60 days before 
approval of such project. 
‘‘(B) PROJECT DESCRIBED.—A project de-
scribed in this subparagraph is a Category A 
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project (as defined in section 237(q)(3)) relating 
to an extractive industry project or any extrac-
tive industry project for which the assistance to 
be provided by the Corporation is valued at 
$10,000,000 or more (including contingent li-
ability). 
‘‘(2) COMMITMENT TO EITI PRINCIPLES.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), the Corporation may approve 
a contract of insurance, reinsurance, a guaranty, 
or enter into an agreement to provide financing 
to an eligible investor for a project that signifi-
cantly involves an extractive industry only if— 
‘‘(i) the eligible investor has agreed to 
implement the Extractive Industries Trans-
parency Initiative principles and criteria, 
or substantially similar principles and cri-
teria related to the specific project to be car-
ried out; and 
‘‘(ii)(I) the host country where the 
project is to be carried out has committed to 
the Extractive Industries Transparency Ini-
tiative principles and criteria, or substan-
tially similar principles and criteria; or 
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