She advocated for multilateral development banks to prioritize climate results.
Secretary of the Treasury Janet Yellen spoke with global financial leaders last week to continue coordinating investment plans to address climate change. These leaders run multilateral development banks (MDBs), which offer financial options to the developing countries most likely to experience extreme weather events.
Secretary Yellen commended the leaders for their work in the last three years, in which they met their goal to mobilize $100 billion annually in these financing efforts. She also urged them to continue fostering relationships with “private capital” and “climate-aligned investments” in order to create “the outcomes that change lives.”
“I am optimistic that these and other steps will result in MDBs that are better, bigger, and more effective in achieving the intertwined goals of reducing poverty, accelerating sustainable and inclusive growth, and addressing global challenges like climate change,” Secretary Yellen said. “And I very much look forward to continuing to advance our collective work, including through today’s focus on extreme heat and resilience.”
As the Lord Leads, Pray with Us…
- For Secretary Yellen to be prudent in her promotion of climate goals within the financial realm.
- For Treasury Department officials to receive God’s direction as they manage the federal government’s obligations.
Sources: Treasury Department
