Remarks by Secretary of the Treasury Janet L. Yellen Announcing the Emerging Markets Transition Debt Initiative

As Prepared for Delivery A year ago in Paris, I announced the launch of a new partnership, the Bellagio Private Capital Mobilization Consortium, established by the Treasury Department and the Investor Leadership Network with the aim of bringing institutional investment into emerging markets. Today, we celebrate a key achievement of the Bellagio Consortium: Treasury, the Investor Leadership Network Secretariat, and ILN members Ninety One, CDPQ, and OMERS are announcing the Emerging Markets Transition Debt initiative. Under this initiative, investors have committed to invest $400 million into the energy transition in emerging markets, with a focus on investments in three areas: clean infrastructure, clean technology, and decarbonization. This new initiative advances key Treasury priorities.