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Illustration: Rebecca Zisser/Axios

This week is providing fresh hints of the Biden's administration's efforts on both climate funding and climate-related risks to the financial system.

Driving the news: Secretary of State Antony Blinken told the board of the U.S. International Development Finance Corporation (DFC) that its work will be "front and center" at the global climate summit the White House is holding April 22.

  • "Development finance is a powerful tool for addressing the climate crisis," he said.
  • Blinken said he and climate envoy John Kerry are "very interested in how the DFC can help drive investment toward climate solutions, innovation in climate resilience, renewable energy, and decarbonization technologies."

What we're watching: The Wall Street Journal reports that the U.S. and China will co-chair a "G-20 study group focusing on climate-related financial risks."

  • And yesterday National Economic Council director Brian Deese and Gina McCarthy, Biden's top domestic climate official, met virtually with "leaders and advocates focused on climate-related financial risks," the White House said.

Go deeper

Updated 3 hours ago - Science

Huge wildfire reaches edge of Sequoia National Park

A plume of smoke and flames rise into the air as the fire burns towards Moro Rock during the KNP Complex fire in the Sequoia National Park near Three Rivers, California, on Saturday. Photo: Patrick T. Fallon/AFP via Getty Images

Firefighters in Sequoia National Park were working into the night after two wildfires merged to reach the Giant Forest Saturday.

Why it matters: This forest contains over 2,000 giant sequoias, including the General Sherman Tree — the world's largest tree by volume. Park officials wrapped the redwoods in foil last week as the Paradise and Colony Fires, now known as the KNP Complex Fire, neared. Protection efforts appeared to be working overnight.

4 hours ago - World

Hong Kong holds first "patriots only" elections

Hong Kong Chief Executive Carrie Lam during a news conference last Monday. Photo: Lui Siu Wai/Xinhua via Getty Images

Hong Kong's elections to choose the city's Election Committee members opened to a select group of voters on Sunday, under a new "patriots only" system imposed by China's government.

Why it matters: All candidates running to be members of the electoral college have been "vetted" by Beijing, per Reuters. They will go on to choose the Asian financial hub's next leader, approved by China's government, and some of its legislature.

6 hours ago - World

Israeli forces capture final 2 escaped Palestinian prisoners

An Israeli security forces member on Saturday stands guard at the Gilboa prison in northern Israel, from where the six inmates escaped. Photo: Ahmad Gharabli/AFP via Getty Images

Israeli forces captured the two remaining Palestinian prisoners who tunneled their way out of an Israeli maximum-security prison with four others in a "Shawshank Redemption"-style escape, authorities announced Sunday.

Why it matters: The escape sparked a massive manhunt and turned the prisoners into heroes in the West Bank and Gaza, with Hamas and Islamic Jihad in Gaza threatening an escalation if they were harmed, per Axios' Barak Ravid.