Two federal agencies have new guidance in place largely barring government investment in power-generation projects that fail to adequately cut carbon emissions. The rules, by the Export-Import Bank and the Overseas Private Investment Corporation (OPIC), which facilitate U.S. private investments into foreign projects, would essentially discontinue U.S. funding for overseas coal-fired power generation.
Yet a surprise addendum to a massive U.S. government spending bill would disallow the Export-Import Bank from implementing its new rule, which was unveiled in December. The provision, made public Monday evening, also guts a court-ordered greenhouse gas cap put in place in 2009 to force OPIC to set limits on the carbon emissions of its investments.
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