July 17, 2008
HP-1084

Under Secretary for International Affairs
David H. McCormick
Statement on Introduction of Clean Technology Fund Legislation

"The Treasury Department welcomes the Senate Foreign Relations Committee's introduction yesterday of bipartisan legislation authorizing $2 billion for international clean technology deployment, which would play an immediate role in reducing greenhouse gas emissions growth in the fastest growing developing countries. Secretary Paulson thanks Senators Biden, Lugar, Menendez, and Hagel for this important legislation, which supports the Administration's request for authorization of $2 billion in U.S. contributions to a new multilateral clean technology fund to combat the urgent challenge of global climate change. The Treasury Department looks forward to working with the authors to ensure the timely passage of effective legislation."