“We need to embark on a path of sustainable growth that protects our planet and fuels our economies with the clean energy they need to grow,” he added.
Yellen said she hopes to “discuss her energy transition plans” and carbon credit markets, which allow companies to offset their CO2 emissions.
Carbon credits, a mechanism that allows one to claim that a highly polluting product is “carbon neutral,” are under the scrutiny of critics who consider them a way to improve image without actually contributing to the environment.
Yellen stressed that 2023 was “a year of change” that allowed the bloc’s 21 economies to refocus on the goals defined in their pre-pandemic action plan, with the objectives of facilitating trade exchange, advancing fiscal reforms and accelerating development. infrastructure and financing.
“We have discussed how to finance effective energy transitions while supporting the most vulnerable individuals and communities,” he said, highlighting the Just Energy Transition Partnerships (JETP) signed in Vietnam and Indonesia.
These agreements define conditions for rich countries to commit to financing the energy transition of developing nations.