Wall Street titans and the regulators overseeing them are increasingly important actors in the fight against global warming, and this week underscored that trend.
Driving the news: Two banking giants — JPMorgan Chase and Citigroup — yesterday vowed to steer trillions of dollars into sustainability efforts that include a focus on clean energy and climate.
China's Vice Minister of Foreign Affairs Le Yucheng told AP on Friday that China is unlikely to pursue climate proposals beyond its current arsenal, calling it "not very realistic" for a country of 1.4 billion people.
Why it matters: Despite heightened geopolitical tensions, the Biden administration has emphasized the need to partner with China on climate change. Le's comments come as Biden's climate envoy John Kerry is discussing the issue in meetings with Chinese officials in Shanghai.
President Biden's top trade negotiator is pledging to employ trade policy levers to fight climate change and ecological degradation, warning of a "closing window to prevent a catastrophic environmental chain reaction."
Why it matters: U.S. Trade Representative Katherine Tai on Thursday made climate change the focus of her first speech in the role. The decision underscores how the White House hopes to marshal a wide-ranging, government-wide approach to the topic.
