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Yellen calls on multilateral banks to mobilize capital to combat climate change

WASHINGTON, Jul 22 (.) – U.S. Treasury Secretary Janet Yellen on Thursday called on the heads of the World Bank and other multilateral development entities to come up with concrete plans to mobilize significantly more capital to combat climate change and support carbon reduction targets.

The Treasury said in a statement that Yellen, White House climate representative John Kerry, and the heads of major development banks discussed ways to “maximize” private capital to finance climate change measures and reevaluate the internal incentives and practices of entities to that end.

“Secretary Yellen encouraged multilateral entities to strengthen their focus on climate adaptation, particularly through private sector operations, and to support developing countries in implementing ambitious emission reduction measures and protecting ecosystems. critics, “said the Treasury.

Yellen will reconvene the group “to discuss their concrete plans in October”, in the framework of the annual meetings of the World Bank and the International Monetary Fund.

The institutions that participated in the meeting were the World Bank Group, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development and the Inter-American Development Bank.

(Reporting by David Lawder. Edited in Spanish by Marion Giraldo)

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