The Treasury Department has released a new set of guidelines for financial institutions working to reduce their carbon footprint in the latest climate change push by the Biden administration.
The principles, which are voluntary guidelines for firms with commitments to net-zero carbon emissions, were announced by Treasury Secretary Janet Yellen on Tuesday during a speech in New York at the Bloomberg Transition Finance Action Forum. A net-zero commitment means reducing carbon emissions to zero, or removing as much carbon from the atmosphere as is added.