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Biden orders US to stop funding carbon-intensity fuel projects abroad

FILE PHOTO: US President Biden visits Kansas City
FILE PHOTO: U.S. President Joe Biden delivers remarks on infrastructure at the Kansas City Area Transportation Authority in Kansas City, Missouri, U.S., December 8, 2021. REUTERS/Jonathan Ernst / File Photo

December 10, 2021

By Valerie Volcovici

WASHINGTON (Reuters) – The Biden administration has ordered U.S. government agencies to immediately stop funding carbon-intensive fossil fuel projects abroad and prioritize international cooperation for public implementation. clean energy technology, according to the US announcement.

Reuters said the US government’s commitments should reflect the goals set out in an executive order issued earlier this year to end US financial support for coal and carbon energy projects in the US. foreign.

“The goal of the policy described below is to ensure that the majority of U.S. international energy commitments promote clean energy, innovative technological innovation, and enhanced clean technology competitiveness of the United States. United States and support pure transition, except in rare cases where national security is required. , geostrategic interests, or energy development/access, and there are no viable lower-carbon alternatives that can accomplish the same goals,” one cable said.

The announcement was first reported by Bloomberg.

The policy defines “carbon-intensive” international energy commitments as projects with greenhouse gas intensity above the life-cycle value threshold of 250 grams of carbon dioxide per kilowatt-hour and consisting of coal, gas or oil. .

The policy prohibits any U.S. government funding for coal projects abroad that do not capture or capture only a fraction of their carbon emissions, allowing federal agencies to engage solely in production coal if the project demonstrates full emissions capture or is part of an accelerated phase.

It exempts carbon-intensive projects for two reasons: they are deemed necessary for national security or geostrategic reasons, or they are critical to providing energy access to energy. vulnerable areas.

This policy formalizes the goals set by the administration in previous executive orders and policy guidelines, and is reiterated in multilateral forums such as the G7 meeting in France in August and the G7 meeting. UN climate summit in Scotland in the fall.

(Reporting by Valerie Volcovici, Editing by Chris Reese)

https://www.oann.com/biden-orders-u-s-to-stop-financing-carbon-intense-overseas-fuel-projects/?utm_source=rss&utm_medium=rss&utm_campaign=biden-orders-u-s-to-stop-financing-carbon-intense-overseas-fuel-projects Biden orders US to stop funding carbon-intensity fuel projects abroad

Bobby Allyn

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