Yellen Calls for $3 Trillion Annual Climate Investment

U.S. Treasury Secretary Janet Yellen emphasized the urgent need for a $3 trillion annual investment to transition to a low-carbon economy by 2050, highlighting this as the 'biggest economic opportunity of the 21st century.' Speaking in Belem, Brazil, after the G20 summit, Yellen stressed that addressing climate change is both an environmental and economic imperative, with significant investments required from both wealthy nations and multilateral development banks. The U.S. remains committed to supporting sustainable development, particularly in the Amazon region, through initiatives like the Amazonia Forever program and the Inflation Reduction Act. Yellen reiterated that neglecting climate change would be detrimental to both the environment and the economy, urging global cooperation to achieve net-zero emissions goals. This extensive financing is seen as essential to fostering inclusive growth and combating nature crimes that threaten biodiversity.