By Athena Ballesteros of World Resources Institute
IDN-InDepth NewsAnalysis
The U.S. Department of the Treasury issued on October 29, 2013 a policy document ending Washington’s support for multilateral development bank (MDB) funding for new overseas coal projects except in narrowly defined circumstances. Treasury Under Secretary for International Affairs Lael Brainard explained: “By encouraging the use of clean energy in multilateral development bank projects, we are furthering U.S. efforts to address the urgent challenges of climate change.” World Resources Institute’s Project Manager of International Financial Flows and Environment Project, Athena Ballesteros, analyses the significance of the initiative in a blog.