Janet Yellen urges China to boost funding to tackle climate crisis

US Treasury secretary says Beijing could have greater global impact if it worked with global climate institutions

US Treasury secretary Janet Yellen has pressed China to do more to support international climate institutions that are helping finance green initiatives around the world, urging deeper cooperation in addressing the existential threat" of global heating.

Climate finance should be targeted efficiently and effectively," Yellen said on Saturday in Beijing during a meeting with Chinese and international sustainable finance experts. I believe that if China were to support existing multilateral climate institutions like the Green Climate Fund and the Climate Investment Funds alongside us and other donor governments, we could have a greater impact than we do today."