Politics
Yellen Backs Aligning U.S. Portfolios With Climate Goals
- Comments on financial firms likely to provoke Republican ire
- GOP says plans on climate represent regulatory overreach
Treasury Secretary Janet Yellen
Photographer: Drew Angerer/Getty Images
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Treasury Secretary Janet Yellen on Tuesday outlined her department’s plans on fighting climate change with remarks that are likely to ramp up a dispute with Republican lawmakers over the appropriate use of financial regulation on that front.
Yellen said the Biden administration would “encourage financial institutions to credibly align their portfolios and strategies with the objectives of the Paris Agreement,” the international accord to which the Biden administration recently recommitted the U.S.