Treasury Unveils Climate Policy Strategy

The Treasury Department today announced a new climate policy strategy intended to “bring to bear the full force of [Treasury] on domestic and international policymaking, leveraging finance and financial risk mitigation to confront the threat of climate change.” Treasury will focus its efforts on climate transition finance, climate-related economic and tax policy and climate-related financial risks, according to a press release.

In addition, Treasury will establish a new Climate Hub—which will coordinate existing climate related activities—under the direction of Climate Counselor John Morton, a 25-year financial industry veteran who was previously a partner at Pollination, a climate change advisory and investment firm. He also served in the Obama administration. Morton will report directly to Treasury Secretary Janet Yellen.