Treasury Department creates ‘climate hub’

The Treasury Department is creating a “climate hub” to prioritize policies that increase financing for clean energy and address climate-related risks to the economy.

Its creation fulfills a pledge Treasury Secretary Janet Yellen made during her confirmation hearings as part of a commitment to put climate change front and center at the agency. The announcement also comes as President Joe Biden is poised to issue a wide-ranging executive order directing several agencies, including the Treasury Department, to address climate-related risks to the financial system.