U.S. backing global efforts to tackle climate change, leverage private investment: Yellen

FILE PHOTO: U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis

WASHINGTON (Reuters) – The U.S. government under President Joe Biden is working closely with the international community to tackle climate change, increase the scale of climate finance and leverage additional private investment, Treasury Secretary Janet Yellen said on Tuesday.

Yellen told her first meeting with the Coalition of Finance Ministers for Climate Action that Treasury would play a critical role in a whole-of-government push to reach an ambitious 2030 emissions target under the 2015 Paris climate agreement.

She said Treasury was supporting international efforts to “better identify climate-aligned investments and encourage financial institutions to credibly align their portfolios and strategies with the objectives of the Paris Agreement.”

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