The US Treasury Secretary said in Brazil that the change aimed at a low-emission economy is “the greatest economic opportunity of the 21st century”.
Global the transition to a lower-emission economy requires three trillion, or one thousand billion dollars, of capital per year until 2050.
That’s what the US Treasury Secretary said Janet Yellen on Saturday while visiting Brazil. News agencies, among others, report on the matter Reuters and Bloomberg.
According to Yellen, the change aimed at a lower-emission economy is “the biggest economic opportunity of the 21st century”, news agencies say.
Speaking in the city of Belém, Brazil, Yellen said, according to Reuters, that achieving carbon neutrality goals remains the US president’s Joe Biden the administration’s top priority, and that achieving that goal will require leadership outside the United States as well.
In 2025, the UN’s annual climate conference will be held in Belém.
Reuters according to Yellen said earlier last week in connection with the meeting of the G20 countries in Rio de Janeiro that neglecting the fight against climate change and the loss of nature and biodiversity is not only bad environmental policy, but also bad economic policy.
According to statistics collected by the OECD, developed countries provided nearly $116 billion worth of climate finance to developing countries in 2022.
For the first time, the amount exceeded the annual goal of 100 billion, which was originally set for 2020.
News agency Bloomberg’s according to the European Union said in February that it needs to invest approximately 1.5 trillion euros annually in emission reduction measures starting in 2031 in order to achieve its goal of reducing greenhouse gas emissions by 90 percent by 2040.