The Biden administration has ordered U.S. government agencies to immediately stop financing carbon-intensive fossil fuel projects overseas and prioritize international collaborations to deploy clean energy technology, according to U.S. diplomatic cables.
The cables, seen by Reuters, say U.S. government engagements should reflect the goals set in an executive order issued at the start of the year aimed at ending American financial support of coal and carbon-intensive energy projects overseas.
The policy defines "carbon-intensive” international energy engagements as projects whose greenhouse gas intensity is above a threshold lifecycle value of 250 grams of carbon dioxide per kilowatt hour and includes coal, gas or oil. It exempts carbon-intensive projects for two reasons: they are deemed to be needed for national security or geostrategic reasons or they are crucial to deliver energy access to vulnerable areas.
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