The Climate Center is the first step to promote investments towards projects that will fight against climate change, which will reduce emissions of carbon and prepare the economy for climate-related risks
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For: Drafting
Sunday, October 6
Earth Day 2021: Why Climate Change Matters to Improving the Economy, According to Biden
The Treasury Reserve announced its plans to combat climate change through fiscal policy and create a new office to chart an economically beneficial path away from fossil fuel energy.
The Fed will create a Climate Center to be led by John E. Morton, former Obama administration official and climate finance expert, who will coordinate related initiatives with the weather.
Treasury Secretary Janet Yellen in a statement sure that “the serious consequences of our actions require the Treasury to make climate change a top priority “.
” Finance and financial incentives will play a crucial role in addressing the climate crisis at home and abroad and for provide capital for opportunities to transform the economy “.
The Climate Center is the first step to climate change , which will reduce carbon emissions and prepare the economy for climate-related risks.
Yellen has been committed for months to making climate change and the financial risks posed a primary focus of the Treasury Reserve and its broad responsibilities.
The center’s main priority will be in energy technology and promote an “accelerated transition” away from fossil fuels in “sectors and industries of high issuance. ”
Other responsibilities of the center include the use of fiscal and economic policies p To support the construction of infrastructure resistant to extreme weather conditions.
In addition, will monitor communities most affected by climate change or pollution when designing policies and ensure that the transition to a carbon neutral economy provides economic opportunities at all income levels.
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