Biden Poised to Sign Executive Order On Climate Finance
Dean Rachel Kyte speaks with Climatewire about the U.S.' acknowledgement of the relationship between rising temperatures and economic stability.
The Biden administration is preparing to throw its weight behind international efforts to alleviate climate risks that threaten the stability of the global financial system.
The move, which is expected to come soon in the form of an executive order, is the latest sign that the administration will seek to mitigate climate-related financial risks as a pillar of its carbon policies.
"The directive from the top is clear," said Rachel Kyte, a former vice president and special climate envoy at the World Bank Group. "There's no plausible deniability [anymore]. You can't be a financial actor out there and say that you're not really clear where the administration stands on these things."