U.S. Treasury s Yellen to push development banks to step up climate financing effort
07/11/2021 | 12:16pm EDT
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VENICE (Reuters) -U.S. Treasury Secretary Janet Yellen on Sunday signaled she will push multilateral development banks further away from fossil fuel projects, saying she would ask them to increase their climate ambition to support the Paris Agreement on carbon emissions reductions.
Yellen told a news conference that development lenders including the World Bank needed to boost efforts to encourage more private-sector climate-friendly investment. I plan to shortly convene the heads of the MDBs to articulate our expectations that the MDBs align their portfolios with the Paris Agreement and net-zero goals as urgently as possible, Yellen said in remarks to a G20 climate forum.
G20: Yellen to push development banks to step up climate financing effort
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US to push development banks on climate financing
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