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☆ U.S. and China envoys seek to revive climate diplomacy
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +1 min

US climate envoy John Kerry gestures as he speaks next to China's special climate envoy Xie Zhenhua during a session at the World Economic Forum annual meeting in Davos on May 24, 2022. Fabrice Coffrini | Afp | Getty ImagesU.S. climate envoy John Kerry said it was "imperative that China and the United States make real progress" in the four months before the COP28 global climate talks in Dubai, as he met his counterpart Xie Zhenhua in the Chinese capital on Monday. He also urged China to partner with the United States to cut methane emissions and reduce the climate impact of coal-fired power, with the two sides aiming to rebuild trust following a suspension in talks last year. Kerry praised the "incredible job" China has been doing in building up renewable energy capacity but said it had been undercut by the construction of new coal power plants. China has pledged to start reducing coal consumption, but not until 2026, and new coal power project approvals have accelerated since last year.

Persons: John Kerry, Xie Zhenhua, Fabrice Coffrini, Xie, Kerry Organizations: Afp, Getty Locations: Davos, China, United States, Dubai

Washington is seeking to protect U.S. manufacturers from low-cost competitors in China, including those it suspects of using forced labor, which Beijing denies. Both countries say they should be able to collaborate on climate change regardless of other disagreements. After Pelosi's August trip to Taiwan, a democratically-governed island that China claims as part of its territory, Beijing said it would halt all dialogue with Washington on climate change. The two countries only resumed informal climate talks in November at the COP27 summit in Egypt. During Yellen's visit last month, she made a public push to get China to participate in the UN-run funds to help poorer nations address climate change.

Persons: Kerry, John Kerry, Xie Zhenhua, David Sandalow, Biden, Antony Blinken, Janet Yellen, Li Shuo, Nancy Pelosi, Pelosi's, Alden Meyer, Yellen's, Fang Li, Valerie Volcovici, David Stanway, John Stonestreet Organizations: Observers, UN, U.S, Center, Global Energy, Greenpeace, Trump, ., Centre for Research, Energy, Clean, Global Energy Monitor, World Resources Institute, Thomson Locations: COP28 WASHINGTON, United States, China, Beijing, Washington, Paris, Taiwan, U.S, Xinjiang, Egypt, Singapore

☆ The U.S. and China Are Restarting Climate Talks: Here’s Where Things Stand
▼ + stars: | 2023-07-15 | by ( Lisa Friedman | More About Lisa Friedman | ) www.nytimes.com time to read: +1 min

For nearly a year, talks between the planet’s two biggest polluters, China and the United States, have been suspended as the impacts of global warming have only grown more intense in the form of deadly heat, drought, floods and wildfires. John Kerry, President Biden’s special envoy for climate change, is set to arrive in Beijing on Sunday to restart climate negotiations with the Chinese government. The United States and China are the world’s biggest economies, the world’s biggest investors in renewable energy and, most critically, the world’s biggest fossil fuel polluters. “There is no solution to climate change without China,” said David Sandalow, a veteran of the Clinton and Obama administrations now at Columbia University’s Center on Global Energy Policy. “The world’s two largest emitters should be talking to each other about this existential threat.”

Persons: John Kerry, Biden’s, Xie Zhenhua, ”, David Sandalow, Clinton, Obama Organizations: Columbia University’s Center, Global Energy Locations: China, United States, Beijing

☆ John Kerry steps into searing China heat as world’s two biggest polluters try to fix fractured ties
▼ + stars: | 2023-07-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

China Energy Investment Corporation, the world’s largest generator of coal-fired power, said its production of electricity reached a historic high on Monday. Kerry, 79, has traveled to China twice since being appointed as US President Joe Biden’s special climate envoy. Li, the Greenpeace analyst, said he would be closely watching who will meet with Kerry in Beijing. That would require the country to phase out coal power, which accounts for about 60% of its total electricity generation. “The expansion of coal is a grave challenge for China’s climate policy,” Li said.

Persons: John Kerry, ”, Li Shuo, Nancy Pelosi’s, ” Li, Andy Wong, Kerry, Biden, Antony Blinken, Xi Jinping, Janet Yellen, China’s Premier Li Qiang, Blinken, Wang Yi, Alex Wang, Joe Biden’s, Xie Zhenhua, Arnd Wiegmann, Li, Xie Jianhua, Ding Xuexiang, Xi, Obama, Xie, ” Kerry, “ I’m, Stringer, Wang, “ It’s, “, ” Wang Organizations: Hong Kong CNN, Greenpeace, Washington, US, Taiwan —, China Energy Investment Corporation, China’s Premier, University of California, US State Department, China’s Ministry of Ecology, Economic, Blinken, Kerry, CNN, COP28, UCLA, Global Energy Monitor Locations: Hong Kong, Beijing, United States, China, Greenpeace China, Taiwan, Jakarta, “, Los Angeles, Kerry, Shanghai, Tianjin, People’s Republic of China, Davos, Switzerland, Washington, Paris, China Glasgow, Dubai, Lianyungang, China's, Jiangsu, AFP

☆ John Kerry to step into searing China heat as world’s two biggest polluters try to fix fractured ties
▼ + stars: | 2023-07-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Persons: John Kerry, ”, Li Shuo, Nancy Pelosi’s, ” Li, Andy Wong, Kerry, Biden, Antony Blinken, Xi Jinping, Janet Yellen, China’s Premier Li Qiang, Blinken, Wang Yi, Alex Wang, Joe Biden’s, Xie Zhenhua, Arnd Wiegmann, Li, Xie Jianhua, Ding Xuexiang, Xi, Obama, Xie, ” Kerry, “ I’m, Stringer, Wang, “ It’s, “, ” Wang Organizations: Hong Kong CNN, Beijing Sunday, Greenpeace, Washington, US, Taiwan —, China Energy Investment Corporation, China’s Premier, University of California, US State Department, China’s Ministry of Ecology, Economic, Blinken, Kerry, CNN, COP28, UCLA, Global Energy Monitor Locations: Hong Kong, Beijing, United States, China, Greenpeace China, Taiwan, Jakarta, “, Los Angeles, Kerry, Shanghai, Tianjin, People’s Republic of China, Davos, Switzerland, Washington, Paris, China Glasgow, Dubai, Lianyungang, China's, Jiangsu, AFP

☆ 'Under no circumstances': John Kerry rules out U.S. paying climate reparations to low-income countries
▼ + stars: | 2023-07-14 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

U.S. climate envoy John Kerry ruled out paying into a global fund to help poorer nations stricken by the devastating impacts of the climate emergency, saying that "under no circumstances" would the White House consider delivering on reparations. It comes at a time when countries acutely vulnerable to climate-fueled disasters are pushing for wealthy nations — that have the greatest historic responsibility for the climate crisis — to pay for past greenhouse gas emissions. It remains unclear, however, exactly how much richer countries will pay into the fund. Climate reparations is a highly divisive and emotive issue that is seen as a fundamental question of climate justice. Asked during a hearing before a House of Representatives foreign affairs oversight subcommittee on Thursday whether he intended for the U.S. to pay climate reparations, Kerry replied, "No, under no circumstances."

Persons: John Kerry, Kerry, Brian Mast

London CNN —Unless you live under a rock you probably know that US President Joe Biden has spent the past few days here in Europe. First, he met with UK Prime Minister Rishi Sunak before climbing aboard Marine One for a short flight to Windsor to meet King Charles III. At several points, Biden placed his hand on the King’s back, in a tactile display of their close rapport. Biden and King Charles arrive to meet participants of the Climate Finance Mobilisation Forum. Among the group of top financiers and philanthropists was Biden’s special presidential envoy for climate, John Kerry.

Persons: Joe Biden, Rishi Sunak, King Charles III, Charles, –, Prince, Andrew Caballero Reynolds, Biden, Queen Elizabeth II, Charles ’, we’ve, King Charles, Andrew Matthews, Grant Shapps, ”, King, John Kerry, Kerry, State for Energy Security Grant Shapps, Kerry wouldn’t, “ Organizations: CNN’s Royal, London CNN, NATO, UK, Wales ’ Company, Welsh Guards, British Army, Getty, CNN, Finance, Windsor, Energy Security, State for Energy Security, US Locations: London, Europe, Lithuania, American, Ukraine, Windsor, United States, AFP, British

☆ Blinken to meet China's Wang Yi in Jakarta - State Department
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] China's Director of the Office of the Central Foreign Affairs Commission Wang Yi attends during a trilateral meeting with Indonesian Foreign Minister Retno Marsudi and Russia's Foreign Minister Sergei Lavrov in Jakarta, Indonesia, July 12, 2023. REUTERS/Ajeng Dinar UlfianaJuly 12 (Reuters) - U.S. Secretary of State Antony Blinken will meet top Chinese diplomat Wang Yi on Thursday as officials gather in Indonesia for ASEAN meetings, the State Department said in announcing the latest in series of interactions between the rival superpowers. Wang is representing China at the Jakarta meetings involving the Association of Southeast Asian Nations (ASEAN) and partner countries after Beijing said Foreign Minister Qin Gang would not attend due to health reasons. Blinken met Qin and Wang in Beijing last month, marking the first visit to China by a U.S. secretary of state in five years. Wang, who is the foreign policy chief for the Chinese Communist Party, ranks above Qin, who as the foreign minister is the government's foreign policy chief.

Persons: Central Foreign Affairs Commission Wang Yi, Retno Marsudi, Sergei Lavrov, Antony Blinken, Wang Yi, Wang, Qin Gang, Blinken, Qin, Janet Yellen, John Kerry, Joe Biden, Xi Jinping, Daniel Kritenbrink, David Brunnstrom, Simon Lewis, Dan Whitcomb, Michael Perry Organizations: Central Foreign Affairs Commission, Indonesian Foreign, Russia's, REUTERS, ASEAN, State Department, Association of Southeast Asian Nations, Foreign, U.S, Treasury, Chinese Communist Party, Pentagon, NATO, senior State Department, East, Thomson Locations: Jakarta, Indonesia, China, Beijing, United States, Asia, U.S, Lithuanian, Vilnius, Pacific, East Asia

☆ Blinken to meet China's Wang Yi in Jakarta -State Department
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

☆ In rare UN appearance, North Korea defends missile launch
▼ + stars: | 2023-07-13 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

[1/3] Hwasong-18 intercontinental ballistic missile is launched from an undisclosed location in North Korea in this image released by North Korea's Korean Central News Agency on July 13, 2023. The 15-member Security Council met after North Korea said it tested on Wednesday its latest Hwasong-18 ICBM, adding the weapon is the core of its nuclear strike force. "We categorically reject and condemn the convening of the Security Council briefing by the United States and its followers," North Korea's U.N. North Korea last spoke at a council meeting on its nuclear and ballistic missile programs in December 2017, diplomats said. North Korea - formally known as the Democratic People's Republic of Korea (DPRK) - has been under U.N. sanctions for its missile and nuclear programs since 2006.

Persons: Kim Song, Jeffrey DeLaurentis, NATO DeLaurentis, Washington, China's U.N, Zhang Jun, Zhang, Michelle Nichols, Mark Porter, Deepa Babington Organizations: North, Korean Central News Agency, KCNA, REUTERS UNITED NATIONS, Security, Democratic People's, U.S, United Nations, NATO, DPRK, Thomson Locations: North Korea, United States, U.N, Korea, Democratic People's Republic of Korea, DPRK, Pyongyang, Russia, China, Britain, France, South Korea, Washington, Beijing, Moscow, emboldening North Korea, CHINA, U.S, NATO, China's

☆ Musk discusses his new company xAI, 'superintelligence,' and China
▼ + stars: | 2023-07-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +7 min

The event was billed as a conversation about the future of AI and came on a day that Musk launched his own new AI company, xAI. "I think a maximally curious AI, one that is just trying to sort of understand the universe is, I think, going to be pro-humanity," Musk said. He said the idea that a "digital superintelligence" could supplant the Chinese Communist Party itself seemed to resonate. Musk even said he believes the Chinese government would be open to collaborating on an international framework around AI regulation. Musk acknowledged he has "some vested interest in China" but ultimately believes "China is underrated" and that "the people of China are really awesome."

Persons: Elon Musk, Porte, Musk, Ro Khanna, Mike Gallagher, Gallagher, Xi Jinping, China's, Janet Yellen, John Kerry, he's Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Chesnot, U.S, House Armed Services Committee, Chinese Communist Party, xAI, Motion, Communist Party, CCP, optimist, Netflix, CNBC, YouTube Locations: Paris, France, China, Taiwan, United States, West

[1/2] A participant applies rainbow coloured facepaint before a 5.17 km run to mark International Day Against Homophobia in a park in Beijing, China, May 17, 2018. Thirteen diplomats from nine Western and Asian delegations said that the challenges they face when arranging events about gender equality and LGBT issues, or broader cultural activities, showed how China's red lines have shifted. Some recent Chinese actions around foreign missions drew widespread attention, including a warning from authorities aimed at embassies displaying Ukraine flags. Three diplomats told Reuters the incident had made them more careful about meeting with civil society figures. "A case could be made that the intentional disruption of embassy activities violates one or the other of these provisions, if not both," he said.

Persons: Thomas Peter, Xi, Guy Saint, Jacques, Peter Stano, Yaqiu Wang, Wang, Yu Wensheng, Xu Yan, Joseph Klingler, Foley Hoag, Laurie Chen, Yew Lun Tian, Brenda Goh, Engen Tham, David Crawshaw Organizations: REUTERS, Reuters, China's Foreign Ministry, Vienna Convention, Diplomatic Relations, of Public Security, Europe, UNESCO, United Nations, Coordinator's, Beijing LGBT Center, Human Rights Watch, Police, European Union, EU, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, Canada, Vienna, Ukraine, Western, Joseph Klingler , Washington, Shanghai

CNN —US Secretary of State Antony Blinken is due to meet with top Chinese diplomat Wang Yi on Thursday – the latest in a series of increased high-level interactions between Washington and Beijing. Their meeting on the sidelines of the ASEAN Foreign Ministers’ Meeting in Jakarta comes less than a month after the two met in Beijing, holding what the top US diplomat called a “candid and constructive” conversation. The Biden administration feels that the US and China are “getting back to normal in the sense of pace of diplomacy,” a senior administration official told CNN this week. Both Blinken and Yellen claimed they had made some progress in efforts to re-establish bilateral communications aimed at responsibly managing the relationship. But right now that is “not being actively considered,” the senior administration official said.

Persons: Antony Blinken, Wang Yi, Qin Gang, Biden, ”, Janet Yellen, John Kerry, Yellen, ” Blinken, “ We’re, –, ” Yellen, they’ve, Blinken’s, Matthew Miller, Miller Organizations: CNN, Chinese Communist Party, China’s, Qin, Reuters, ASEAN, Microsoft, State Department Locations: Washington, Beijing, Jakarta, United States, China, Fiji, Mexico

☆ US 'under no circumstances' will pay climate reparations, Kerry says
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 13 (Reuters) - The United States will not pay reparations to developing countries hit by climate-fueled disasters, John Kerry, the U.S. special envoy on climate change, told a congressional hearing on Thursday. Kerry, a former U.S. secretary of state, was asked during a hearing before a House of Representatives foreign affairs oversight subcommittee whether the U.S. would contribute to a fund that would pay countries that have been damaged by floods, storms and other climate-driven disasters. "No, under no circumstances,' Kerry said in response to a query from U.S. Representative Brian Mast, the Republican chair of the subcommittee. Kerry was testifying at a hearing on the State Department's climate agenda just days before he was scheduled to travel to Beijing for renewed bilateral talks with China on climate change. Reporting by Valerie Volcovici; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: John Kerry, Kerry, Brian Mast, Valerie Volcovici, Paul Simao Organizations: U.S, United, Thomson Locations: United States, U.S, Beijing, China, Egypt

“They’re going to have concerns about our investment policies toward China,” said Mark Sobel, a former longtime Treasury Department official who is now the U.S. chairman of the Official Monetary and Financial Institutions Forum. Tensions have flared over the flight of a Chinese surveillance balloon over the United States, tougher restrictions on technology from Washington, Beijing’s partnership with Moscow during the war in Ukraine and China’s continued threatening of Taiwan. But new investment restrictions from the United States could escalate the tit-for-tat measures that the two countries have been deploying just as they are trying to set a “floor” under their relationship. But the Biden administration appears to have delayed announcing them given the tumultuous relationship with China. Once the restrictions are proposed, the private sector will have time to comment on the limits, which could shape how they are put in place.

Persons: “, ”, Mark Sobel, China’s, Biden, Yellen, Antony J, Blinken, John Kerry, Biden’s Organizations: longtime Treasury Department, Monetary, Financial, Moscow, U.S Locations: China, U.S, United States, Washington, Ukraine, Taiwan, Beijing

☆ ASEAN struggles for unity on Myanmar conflict
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +4 min

The cause of the delay was unclear but an ASEAN official said a communique was being finalised and would be released soon. ASEAN chair Indonesia on Wednesday urged the group's foreign ministers to remain united in tackling the escalating violence in Myanmar. Malaysia, a vocal critic of the junta, urged ASEAN to strongly condemn the junta's actions, including violence. RIFTS APPARENTRifts within ASEAN over Myanmar were highlighted when Thailand invited Myanmar military officials to a meeting last month aimed at "re-engaging" with the junta. Indonesia, as ASEAN chair this year, is working behind the scenes to bring all stakeholders in the Myanmar conflict together for informal talks, but diplomats say it is struggling to make headway.

Persons: Zambry Abdul Kadir, Antony Blinken, Wang Yi, Don Pramudwinai, Don, Myanmar's, Aung San, Aung San Suu Kyi, Malaysia's Zambry, Suu Kyi's, Kate Lamb, Stanley Widianto, Kanupriya Kapoor, Rob Birsel, Simon Cameron, Moore Organizations: Myanmar's, Association for Southeast Asian Nations, ASEAN, Junta, Indonesia, Wednesday, Myanmar, Thai Foreign, National Unity Government, Thomson Locations: JAKARTA, Jakarta, Myanmar, Malaysia, United States, China, Russia, Thailand, Cambodia, Laos, Vietnam, Indonesia, Singapore, Philippines, Aung San Suu, Naypyitaw

There are also some voluntary credits for mechanically removing CO2 directly from the air, which are currently much more expensive. In June, the CFTC—the federal regulator of derivatives—created an environmental task force focused on rooting out fraud in carbon markets. SHARE YOUR THOUGHTS How can we build trust in carbon offsets? A parallel effort by the Voluntary Carbon Market Integrity Initiative, or VCMI, is setting rules for the buyers of offsets. The Commodity Futures Trading Commission has created an environmental task force focused on rooting out fraud in carbon markets and has called on whistleblowers to expose misconduct.

Persons: don’t, Nestlé, ”, Danny Cullenward, John Kerry, Morgan Stanley, Perrier, San, Ian McGinley, hasn’t, Guy Turner, ” Turner, andrew kelly, Mark Kenber, ” Kenber, William McDonnell, ” McDonnell, Dieter Holger Organizations: Futures Trading Commission, Sustainable Business, Institute, Carbon, American University . “, European Union, American University “, Paris Agreement, Council, Voluntary, Initiative, Trove, Futures, Reuters, dieter.holger Locations: U.S, San Pellegrino, Paris

☆ U.S. climate envoy John Kerry to visit China as talks pick up again
▼ + stars: | 2023-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

US climate envoy John Kerry (L) gestures as he speaks next to China's special climate envoy Xie Zhenhua (R) during a session at the World Economic Forum annual meeting in Davos on May 24, 2022. BEIJING — John Kerry, special presidential envoy for climate, is set to visit Beijing from July 16 to 19, according to announcements from the U.S. and China. Kerry's trip will mark the third time in a month that a high-level U.S. official has traveled to China for talks. Treasury Secretary Janet Yellen ended a four-day trip to Beijing on Sunday. Secretary of State Antony Blinken visited Beijing in late June, months after he was originally scheduled to travel there in February.

Persons: John Kerry, Xie Zhenhua, BEIJING — John Kerry, Kerry, Janet Yellen, Antony Blinken, Blinken Organizations: U.S . State Department, Sunday Locations: Davos, BEIJING, Beijing, U.S, China, People's Republic of China

Mr. Blinken canceled a trip to China during that episode, then publicly accused China a few weeks later of considering sending military aid to Russia for use in Ukraine. One senior State Department official who spoke on the condition of anonymity to discuss the sensitive incident said the hack did not initially appear to be directly related to the trip. Other officials cautioned that the investigation into what material, if any, was stolen by the hackers was still in the early stages. In a statement on Wednesday, the State Department said that after detecting “anomalous activity” the government took steps to secure the systems and “will continue to closely monitor and quickly respond to any further activity.”After the State Department reported the hack to Microsoft, the company found that the hackers had also targeted some 25 organizations, including government agencies. Microsoft, which described the attack as hackers going after specific accounts rather than carrying out a broad-brush intrusion, did not say how many accounts it believes might have been compromised by the Chinese hackers.

Persons: Janet L, Yellen, John Kerry, Biden, Xi, Blinken Organizations: Washington, Pentagon, Mr, State Department, Microsoft Locations: Beijing, China, Bali , Indonesia, United States, Russia, Ukraine

☆ Syria aid: Russia slammed as 'inhumane' after blocking UN cross-border aid operation
▼ + stars: | 2023-07-11 | by ( Mohammed Tawfeeq | ) edition.cnn.com time to read: +3 min

CNN —The United States, France and the United Kingdom have condemned Russia’s move to block the proposed extension of a United Nations’ cross-border operation that delivers aid to millions of people in Syria from Turkey. The decision means that UN agencies and humanitarian partners are not authorized to continue using the Bab al-Hawa crossing on the Syria-Turkey border to provide humanitarian aid to people in the rebel-held area in northwest Syria. Russia had submitted a draft which provided for a six-month extension but it was voted down by France, the UK and the US. More than 4 million people rely on aidRussia and Syria have argued the humanitarian operation violates Syria’s sovereignty and territorial integrity, saying food and other aid should be delivered from inside the country. The Syrian regime praised Russia’s decision, saying it vetoed “a Western UNSC draft resolution violating Syria’s sovereignty under the pretext of delivering cross-border aid,” Syrian state-run SANA news said on Tuesday.

Persons: Russia’s, Matthew Miller, “, ”, ” Miller, Vassily Nebenzia, SANA, Bassam Sabbagh, ” SANA, Bashar al, Assad Organizations: CNN, United Nations, UN, State, United Nations Security, Western UNSC, “ Security Locations: United States, France, United Kingdom, Syria, Turkey, Russia, China, Western, Syrian, Syria’s

WASHINGTON, July 11 (Reuters) - U.S. climate envoy John Kerry on Monday will become the Biden administration's third senior official to visit China in recent weeks after trips by Treasury Secretary Janet Yellen and Secretary of State Antony Blinken. A U.S. official said on Tuesday that Kerry would visit from Monday to Thursday. The two countries have previously cooperated on climate change with breakthroughs that led to the 2015 Paris climate accord. Last month, Blinken met President Xi Jinping in China but soon after his trip ended, U.S. President Joe Biden referred to Xi as a 'dictator,' risking a further deterioration of relations. China last year briefly suspended talks with the United States on climate, security and other matters in response to a visit to Taiwan by U.S. House of Representatives by then-Speaker Nancy Pelosi.

Persons: John Kerry, Janet Yellen, Antony Blinken, Kerry, Washington, China, Xie Zhenhua, Yellen, Blinken, Xi Jinping, Joe Biden, Xi, Nancy Pelosi, Valerie Volcovici, Kanishka Singh, Howard Goller Organizations: Biden, U.S, Beijing, U.S . House, Thomson Locations: China, Taiwan, Paris, U.S, United States

☆ World Bank names CEOs to help bring private funds to climate, development finance
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - The World Bank on Monday named 15 chief executive officers including financiers and asset managers to a group launched by the lender's president, Ajay Banga, aiming to marshal more private capital to combat climate change and boost investment in developing countries. Banga announced the initiative at a global finance summit in Paris last month alongside Mark Carney, the U.N. special envoy on climate action, and Shriti Vadera, chair of Prudential Plc (PRU.L). The World Bank and the CEOs will work "to develop, test, implement and ultimately scale financing structures that can most effectively mobilize private capital," Carney said in a statement. He said in a statement that the Private Investment Lab CEOs were a "crucial piece of the puzzle" to devise ways to pull more private sector investment into the intertwined challenges of poverty, climate and fragility. Reporting by David Lawder; Editing by Will Dunham and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Ajay Banga, Joe Biden, King Charles . Banga, Mark Carney, Shriti Vadera, Carney, Thomas Buberl, Larry Fink, BlackRock, Noel Quinn, Hendrik du Toit, Jessica Tan, Sim Tshabalala, Bill Winters, Dilhan, Mark Gallogly, Banga, David Lawder, Will Dunham, David Gregorio Our Organizations: Bank, Investment, U.S, Prudential Plc, World Bank, AXA, HSBC, Shemara, Mitsubishi UFJ Financial, Ping An, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy, Tata Sons, Temasek, Cairns, Mastercard, Private Investment, Thomson Locations: Britain, Paris, Macquarie, Banga

☆ Yellen says US, China want to 'stabilize' relationship
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, July 10 (Reuters) - U.S. Treasury Secretary Janet Yellen said she believes the United States and China want to stabilize their economic ties with "candor" and "respect." "There are challenges, but I believe there is a desire on both sides to stabilize the relationship and to constructively address problems that each of us see in our relationship, to do so frankly, with candor, with respect and to build a productive relationship going forward," she said. Yellen underscored that Washington was not looking to decouple from the Chinese economy, as Beijing fears, and noted that the United States and China would have almost $700 billion in trade this year, benefiting both sides. She said China has made many advances in recent years, including addressing a serious pollution problem in Beijing. "This is one of the most important bilateral relationships and economic and financial relationships that we have," Yellen said.

Persons: Janet Yellen, Yellen, Antony Blinken, Joe Biden's, John Kerry, Washington, Andrea Shalal, Chris Reese, Leslie Adler Organizations: . Treasury, U.S, Thomson Locations: United States, China, Beijing, Taiwan, U.S, Washington

☆ Despite significant disagreements between China and the US, the world is 'big enough for both countries to thrive': Janet Yellen
▼ + stars: | 2023-07-10 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Treasury Secretary Janet Yellen concluded her trip to China on Sunday with an appeal for both nations to find 'a way to live together.' 'We believe that the world is big enough for both of our countries to thrive,' she said. We believe that the world is big enough for both of our countries to thrive," she said, according to a transcript of her speech on Sunday. John Kerry, the U.S. special envoy for climate change, is slated for a visit to China later this month, per Bloomberg. Despite Yellen's optimism, at least one analyst feels that relations between the US and China remain tenuous.

Persons: Janet Yellen, Yellen, Biden, Yellen's, Antony Blinken's, Xi Jinping, John Kerry, Vishnu Varathan Organizations: Service, US, of Commerce, Eurasia Group, Biden, U.S, Bloomberg, Mizuho Bank's Locations: China, Wall, Silicon, Mizuho Bank's Asia, Oceania

After three years of self-isolation by China, President Biden’s top aides are flying into Beijing throughout the summer to try to convince and cajole Chinese officials, including Xi Jinping, the nation’s leader, on building a new foundation for relations. It could amount to the most consequential diplomatic push of Mr. Biden’s presidency. He is betting that high-level dialogue can itself act as a ballast in a relationship that has been in a dangerous free fall for years. director and the secretary of state have also traveled to Beijing, and the special climate envoy and the commerce secretary are following soon. Mr. Biden and his aides say forging these personal ties could be necessary for defusing crises between the world’s two main superpowers.

Persons: Biden’s, Xi Jinping, “, ” Mr, Biden, Janet L, Yellen, Mr, Xi Organizations: CNN Locations: China, Beijing

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