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U.S. DEPARTMENT OF THE TREASURY Assistant Secretary Alexia Latortue and Climate Counselor John Morton Lead Treasury Delegation at COP27 November 10, 2022 WASHINGTON — This week, Assistant Secretary of the U.S. Department of the Treasury for International Trade and Development Alexia Latortue and Climate Counselor to the Secretary John Morton are leading a delegation of Treasury o�icials to the 27th Conference of the Parties of the United Nations Framework Convention on Climate Change, or COP27, in Sharm El-Sheikh, Egypt. Today, on Finance Day, Assistant Secretary Latortue and Counselor Morton participated in several events in which they discussed Treasuryʼs work to scale up public and private climate finance flows in line with the goals of the Paris Agreement. Specifically, they highlighted the United Statesʼ international public climate finance commitments, including Treasuryʼs recent $950 million loan to the Clean Technology Fund; the United Statesʼ historic domestic climate investments, including the Inflation Reduction Actʼs $270 billion in clean energy-related tax incentives; and Treasuryʼs work on adaptation in support of Presidentʼs Emergency Plan for Adaptation and Resilience. Assistant Secretary Latortue also highlighted Treasuryʼs multilateral development bank (MDB) evolution agenda that seeks to evolve the MDBs so that they can better address global challenges like climate change. This includes a focus on vision, incentive structures, operational structures and financial capacity. Counselor Morton and Assistant Secretary Latortue also discussed the progress of the Just Energy Transition Partnership (JETP) agenda, including South Africaʼs release of their JETP Investment Plan recently, as well as the United Statesʼ and other donor countriesʼ ongoing work with the Government of Indonesia to advance the development of a JETP with Indonesia. ###
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