Yellen urges World Bank to develop ‘clear and ambitious’ climate targets

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U.S. Treasury Secretary Janet Yellen speaks at the Atlantic Council in Washington

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday urged the World Bank to develop “clear and ambitious targets” for climate adaptation and the global energy transition, underscoring the importance of such efforts for reaching a net-zero energy future.

In a statement to the joint steering committee for the International Monetary Fund and World Bank, Yellen strongly condemned Russia’s war in Ukraine, and said it had highlighted the consequences of reliance on fossil fuels.

“We must continue to develop and deploy renewable and zero emissions energy and reduce dependency on energy sources that are volatile,” Yellen said.

(Reporting by Andrea Shalal; Editing by Chris Reese)