Remarks by Secretary Janet L. Yellen at Transition Finance Dialogue

As Prepared for Delivery I am glad to welcome all of you to the Treasury Department. Since the start of the Biden-Harris Administration, we have been pursuing far-ranging actions to achieve our climate and economic goals. The private sector has been key to our approach: Treasury has been undertaking extensive efforts, in partnership with many of you, to encourage financial institutions and other market participants to realize the opportunities created by the transition to clean energy. Let me highlight a few recent developments. Last fall, I announced Treasury’s Principles for Net-Zero Financing and Investment. The Principles were a key step forward, meeting a need for greater clarity around best practices related to net-zero commitments. With the Principles, we affirmed the importance of credible commitments and encouraged financial institutions that make such commitments to take consistent approaches to implementation.