U.S. promises to end funding for overseas coal projects

[unhappycamper]

http://www.rawstory.com/rs/2013/10/29/u-s-promises-to-end-funding-for-overseas-coal-projects/



U.S. promises to end funding for overseas coal projects
By Agence France-Presse
Tuesday, October 29, 2013 19:40 EDT

The United States said Tuesday it would end most financing of coal projects overseas, taking a potentially significant step to curbing carbon emissions blamed for climate change.

The decision puts into action a pledge in June by President Barack Obama to pursue more climate-friendly development policies. The World Bank, where the United States holds the most voting power, also stated after Obama’s pledge that it would stop most financing for coal, among the dirtiest forms of energy.

The Treasury Department said it would end support for coal plants by the World Bank and other international development institutions unless the projects involve new carbon-capture measures or if there is no other economically feasible option in one of the world’s poorest countries.

Lael Brainard, the Treasury undersecretary for international affairs, said that the Obama administration’s decision marked an “important step” in supporting cleaner energy.

[kristopher]

1. "no other economically feasible option"

And the nice thing is, there are almost always other economically feasible option(s).

[beachbum bob]

2. really?

what option does China and India have???

[kristopher]

3. They aren't getting World Bank funds.

But they have the option of renewable energy sources.