{"id":338188,"date":"2024-08-01T15:23:55","date_gmt":"2024-08-01T13:23:55","guid":{"rendered":"https:\/\/climatescience.press\/?p=338188"},"modified":"2024-08-01T15:23:57","modified_gmt":"2024-08-01T13:23:57","slug":"janet-yellen-calls-for-78000000000000-to-tackle-climate-change","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=338188","title":{"rendered":"Janet Yellen calls for $78,000,000,000,000 to tackle climate change"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From CFACT<\/a><\/p>\n\n\n\n

By Rebeka Zeljko<\/a><\/p>\n\n\n\n

U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050.<\/p>\n\n\n\n

Yellen said that in order to achieve the goal of net-zero global carbon emissions, there would need to be $3 trillion globally in annual financing for the cause, which she said is a top priority for the Biden administration, according<\/a> to the speech. In order to contribute to this, Yellen<\/a> vowed to finance green initiatives in developing countries through multilateral development banks and develop \u201cclean energy technologies.\u201d<\/p>\n\n\n\n

\u201cThe transition will require no less than $3 trillion in new capital from many sources each year between now and 2050,\u201d Yellen said during the speech. \u201cThis can be leveraged to support pathways to sustainable and inclusive growth, including for countries that have historically received less investment.\u201d<\/p>\n\n\n\n

In 2022, global economies provided a record $116 billion to finance climate initiatives in developing countries, which Yellen called \u201cthe single-greatest economic opportunity of the 21st century\u201d during the speech.<\/p>\n\n\n\n

\u201cNeglecting to address climate change and the loss of nature and biodiversity is not just bad environmental policy,\u201d Yellen said during the speech. \u201cIt is bad economic policy.\u201d<\/p>\n\n\n\n

Yellen boasted in her speech about the commitments the Biden administration has put forth toward forwarding these green initiatives to achieve their \u201cclimate goals.\u201d<\/p>\n\n\n\n

\u201cAt home, we are implementing the Inflation Reduction Act<\/a>, the most significant climate legislation in our nation\u2019s history,\u201d Yellen said during the speech. \u201cIt is driving hundreds of billions of dollars of investments in the clean energy technologies and industries that will propel us toward our climate goals and fuel our economic growth.\u201d<\/p>\n\n\n\n

The Inflation Reduction Act allocated $370 billion<\/a> to subsidize climate initiatives like electric vehicles<\/a> and other technologies that are essential to President Joe Biden\u2019s green agenda.<\/p>\n\n\n\n

\u201cClimate change is literally an existential threat to our nation and to the world,\u201d Biden said during a speech<\/a> addressing climate change in July of 2022. \u201cAs President, I\u2019ll use my executive powers to combat climate \u2014 the climate crisis in the absence of congressional actions, notwithstanding their incredible action.\u201d<\/p>\n\n\n\n

During her speech, Yellen advocated for these climate initiatives to be implemented \u201cbeyond our borders.\u201d<\/p>\n\n\n\n

\u201cOur ambitions at home are matched by our ambitions abroad,\u201d Yellen said during the speech. \u201cWe know that we can only achieve our climate and economic goals \u2014 from reducing global emissions to adapting and building resilience, from strengthening markets to bolstering supply chains \u2014 if we also lead efforts far beyond our borders.\u201d<\/p>\n\n\n\n

This article originally appeared at The Daily Caller<\/a><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050.<\/p>\n","protected":false},"author":121246920,"featured_media":338189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691829934,691818056,691823222,691819262,691818576,691829933],"class_list":["post-338188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-78-trillion","tag-climate-change","tag-global-transition","tag-green-agenda","tag-inflation-reduction-act","tag-u-s-treasury-secretary-janet-yellen","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/08\/0Janet-Yellen-Brazil.jpg?fit=1600%2C1073&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1pYE","jetpack-related-posts":[{"id":268893,"url":"https:\/\/climatescience.press\/?p=268893","url_meta":{"origin":338188,"position":0},"title":"China Rebuffs John Kerry\u2013Xi Tells Him, It\u2019s Business As Usual For\u00a0China","author":"uwe.roland.gross","date":"07\/23\/2023","format":false,"excerpt":"Chinese leaders rebuffed attempts by John Kerry, President Biden\u2019s climate envoy, to persuade them to commit to tougher climate action during three days of talks in Beijing, a response that suggested that tensions between the countries are making it difficult to work together on a crisis that threatens the planet.","rel":"","context":"In \"China\"","block_context":{"text":"China","link":"https:\/\/climatescience.press\/?tag=china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0John-Kerry_Xi-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0John-Kerry_Xi-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0John-Kerry_Xi-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0John-Kerry_Xi-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0John-Kerry_Xi-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":247571,"url":"https:\/\/climatescience.press\/?p=247571","url_meta":{"origin":338188,"position":1},"title":"US Banks Collapse, As Regulators Focus On Climate Change","author":"uwe.roland.gross","date":"03\/14\/2023","format":false,"excerpt":"Note the comment that banks are \u201cincreasingly focussed on the risk\u201d of climate change. 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