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Yellen Signals Action on Climate Change a Top Treasury Priority

“Newly confirmed Treasury Secretary Janet Yellen is giving climate change a prominent role in her talks with her counterparts around the world, signaling a significant shift by the Biden administration to prioritize addressing climate change not just from the White House but also at the agency.

Yellen has spoken to the finance ministers of Italy, Japan, Canada, France, Germany and the United Kingdom since being sworn in less than a week ago, according to statements provided by the Treasury Department regarding those talks. In all of those calls, “forcefully addressing the threat of climate change” has been discussed as one of Yellen's top priorities and tackling climate change has been a topic of conversation, according to those statements.

Yellen's early focus on climate change with other finance leaders comes after she told senators during her confirmation hearing last month she would appoint someone at a senior level within the Treasury Department to address efforts on climate change and create a “hub” within her department focused on the risks climate change poses to the financial system and tax policy-related incentives.”

Sarah Ewall-Wice reports for CBS News February 3, 2021.