Janet Yellen, US Treasury secretary has asked China increase its support to international climate institutions that are helping finance green initiatives around the world, calling for a deeper cooperation in addressing the “existential threat” of global heating.
“Climate finance should be targeted efficiently and effectively,” Yellen was quoted as saying in Beijing during a meeting with Chinese and international sustainable finance experts. “I believe that if China were to support existing multilateral climate institutions like the Green Climate Fund and the Climate Investment Funds alongside us and other donor governments, we could have a greater impact than we do today.”
Her comments come as the United States seeks to cool tensions and stress areas of collaboration between the world’s two biggest economies.
“As the world’s two largest emitters of greenhouse gases and the largest investors in renewable energy, we have both a joint responsibility – and ability – to lead the way,” Yellen said, underlining a key area of cooperation despite difficult bilateral relations.
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She said that Climate change is at the top of the list of global challenges, and the United States and China must work together to address this existential threat.
Recall that China last year briefly said it was suspending talks on the climate after Nancy Pelosi, then speaker of the House of Representatives, visited Taiwan – the self-ruling democracy claimed by Beijing.
Highlighting some of those tensions, China’s People’s Liberation Army sent 13 aircraft and six vessels into the airspace and waters around Taiwan in the 24 hours to early Saturday. But there are signs that climate talks might restart soon, with US envoy John Kerry due to travel to China soon to discuss cooperation on climate change, a US official said on Friday.
Apart from working together on climate, Yellen said in a Friday meeting with Chinese premier Li Qiang that it was also key that Washington and Beijing closely communicated on global economic and financial affairs – while making joint efforts on international challenges such as debt distress.
Story was adapted from the Guardian.
