BELEM, Brazil (LifeSiteNews) — U.S. Treasury Secretary Janet Yellen said over the weekend that as much as $78 trillion will need to be spent between now and 2050 to transition the global economy to a net-zero level of carbon emissions, indicating the Biden administration has no intention of slowing down its green agenda.
The Daily Caller reported that Yellen declared the “transition will require no less than $3 trillion in new capital from many sources each year between now and 2050” that “can be leveraged to support pathways to sustainable and inclusive growth, including for countries that have historically received less investment.”
“At home, we are implementing the Inflation Reduction Act, the most significant climate legislation in our nation’s history,” she told an audience at Brazil’s Goeldi Museum. “It is driving hundreds of billions of dollars of investments in the clean energy technologies and industries that will propel us toward our climate goals and fuel our economic growth.”
“Our ambitions at home are matched by our ambitions abroad,” she added. “We know that we can only achieve our climate and economic goals – from reducing global emissions to adapting and building resilience, from strengthening markets to bolstering supply chains – if we also lead efforts far beyond our borders.”
Signed in 2022, President Joe Biden’s so-called Inflation Reduction Act (IRA) had little to do with reducing inflation but instead funded a broad range of unrelated left-wing causes, including the abortion industry, the enforcement activities of the Internal Revenue Service, and most relevant to Yellen’s remarks $370 billion to “green” initiatives such as electric vehicles. In fact, the bill continued the federal government’s massive federal spending that has exacerbated inflation under Biden, and with it raised expenses for Americans going about their daily lives.
Yet Democrats and left-wing activists insist such spending is necessary to combat anthropogenic global warming (AGW) or climate change, the thesis that human activity, rather than natural phenomena, is primarily responsible for Earth’s changing climate, and that such trends pose a danger to the planet.
That view, long settled as a dogma in left-wing ideology, is based in large part on manipulated data. Activists have long claimed there is a “97 percent scientific consensus” in favor of AGW, but that number comes from a distortion of an overview of 11,944 papers from peer-reviewed journals, 66.4 percent of which expressed no opinion on the question; in fact, many of the authors identified with the AGW “consensus” later spoke out to say their positions had been misrepresented.
Voters disapprove of Biden’s handling of inflation by 28 percentage points, according to RealClearPolitics. According to multiple surveys of voters’ issue priorities, climate change consistently ranks well below the economy despite its importance to elected Democrats.