House Committee Tells U.S. Treasury to Heed Calls for Redesign of Clean Tech Fund

June 09, 2008
CGD senior fellow testifies before the House subcomittee

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.