22 U.S.C. § 262m–8: Climate change mitigation…

Summary

The Secretary of the Treasury must push multilateral development banks (defined elsewhere) to use greenhouse gas accounting when they weigh the costs and benefits of projects they fund, except for projects with very small emissions. The Secretary must also work to have these banks expand actions to reduce greenhouse gases: support more energy efficiency, renewables and zero‑carbon technology; review infrastructure for energy‑saving options; advise developing countries on low‑carbon policies and private investment; and add low‑carbon goals to country strategies. Not later than 1 year after June 24, 2009, and annually thereafter, the Secretary must report progress to the Committee on Foreign Relations and the Committee on Appropriations of the Senate and to the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.

Title 22, §262m–8

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Use of greenhouse gas accounting

The Secretary of the Treasury shall seek to ensure that multilateral development banks (as defined in section 262r(c)(4) of this title) adopt and implement greenhouse gas 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)Expansion of climate change mitigation activities

The Secretary of the Treasury shall work to ensure that the multilateral development banks (as defined in section 262r(c)(4) of this title) expand their activities supporting climate change mitigation by—

(1)significantly expanding support for investments in energy efficiency and renewable energy, including zero carbon technologies;

(2)reviewing all proposed infrastructure investments to ensure that all opportunities for integrating energy efficiency measures have been considered;

(3)increasing the dialogue with the governments of developing countries regarding—

(A)analysis and policy measures needed for low carbon emission economic development; and

(B)reforms needed to promote private sector investments in energy efficiency and renewable energy, including zero carbon technologies; and

(4)integrate low carbon emission economic development objectives into multilateral development bank country strategies.

(c)Report to Congress

Not later than 1 year after June 24, 2009, and annually thereafter, the Secretary of the Treasury shall submit a report on the status of efforts to implement this section to the Committee on Foreign Relations and the Committee on Appropriations of the Senate and the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.

Editorial Notes

Prior Provisions

A prior section 1308 of Pub. L. 95–118 was renumbered section 1307 and is classified to section 262m–7 of this title.

§262m–8 Climate Change Mitigation and Greenhouse Gas Accounting

Summary

Title 22, §262m–8

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Citations & Metadata