Yellen Calls for Stronger Climate Finance Cooperation with China

Treasury Secretary Janet Yellen called on China to support international climate finance funds and contribute more to help developing countries combat climate change. While China has expressed support for programs to assist poor nations in dealing with the effects of climate change, it has resisted paying into such funds, arguing that it is still a developing nation. Yellen emphasized that China, like the United States, has a responsibility to be a climate finance leader and that greater cooperation between the two countries could have a significant impact in addressing climate change. The United States and China are both facing pressure to provide more financial assistance to developing countries struggling with coal phase-outs, renewable energy development, and climate change adaptation measures.