June 09, 2008
Controversy over the World Bank's proposed design for a multibillion dollar Clean Technology Fund reached a House subcommittee last week. When the hearing ended, Rep. Luis Gutierrez, the chairman of the subcommittee, voiced support for CGD senior fellow David Wheeler's scenario for a successful fund. Wheeler had urged that the fund focus on rapidly driving down the price of zero-emissions renewable power so that it becomes cheaper than electricity from coal and other fossil fuels, thereby helping to avert a climate disaster. CGD outreach and policy assistant Joel Meister reports on the hearing.