On July 29th, Gelunhui reported that US Treasury Secretary Yellen estimated that the world would need to invest $3 trillion in financing annually from now until 2050 to complete the transition to a low-carbon economy. The amount is much higher than the current level. While attending the G20 Finance Ministers’ meeting in Brazil, Yellen said that both President Biden and Vice President Harris, who is expected to be the Democratic Party's presidential candidate, will work hard to promote the transformation to green energy. Yellen pointed out that the green economy is the most important part of the 21st century economy, and if there is no investment, opportunities will be missed. Yellen also said that developed countries will provide $116 billion to developing countries in 2022, 40% of which will come from Multilateral Development Banks (MDBs). She hopes that MDBs will increase relevant funds further.