Yellen: Cooperation between Beijing and Washington is "essential" to finance climate change

The US Treasury Secretary, Janet Yellen, affirmed on Saturday during her second day of the visit to Beijing that cooperation between China and the United States is "essential" for financing climate change mitigation.

During her participation in a round-table discussion with experts, Yellen stated, "I think it is essential to continue cooperation between the United States and China in the field of financing climate change mitigation."

She added, "As the world's largest emitters of greenhouse gases and the largest investors in renewable energy, we bear both the shared responsibility and the ability to lead the way," emphasizing it as a key area for cooperation for Washington despite the strained bilateral relations with Beijing.

Yellen's visit comes a few weeks after a visit by Secretary of State Antony Blinken and reflects the Biden administration's desire to re-engage with Beijing after a near-complete isolation experienced by China for three years due to COVID.

Yellen stated on Saturday that "climate change is number one on the list of global challenges, and the United States and China must work together to confront this existential threat."

She emphasized that "climate change financing needs to be effectively focused," urging China to support multilateral institutions such as the Green Climate Fund.

China suspended climate talks last summer in protest against the visit of former Speaker of the US House of Representatives, Nancy Pelosi, to Taiwan.

However, signs of easing tensions have started to emerge, as a US official announced on Friday that US envoy John Kerry would soon visit China to discuss cooperation on climate change.



AFP