US Treasury Secretary Janet Yellen calls climate fight the world's greatest economic opportunity
US Treasury Secretary Janet Yellen travelled Saturday to the mouth of the Amazon River, pitching the idea that fighting climate change would bolster economic growth in the region and across the globe.
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The shift required to lower carbon emissions is «the single greatest economic opportunity of the 21st century,» Yellen said in a speech in Belem, Brazil, after a meeting with finance ministers from the Amazon region.
The investment that demands — an annual $3 trillion through 2050, Yellen said — «can be leveraged to support pathways to sustainable and inclusive growth, including for countries that have historically received less investment.»
The event was organized by the Inter-American Development Bank as part of its Amazonia Forever initiative that seeks to support carbon reduction, wildlife protection and biodiversity while protecting jobs and economic activity across eight South American countries. -Bloomberg
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