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Yellen Gets a Shot to Put Treasury Clout Into Climate Fight

  • She is seen using FSOC to force companies to consider risks
  • Yellen warned failing to address risks will be ‘devastating’
Janet Yellen
Janet YellenPhotographer: Alex Wong/Getty Images
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Janet Yellen has promised to make fighting climate change a priority as Treasury secretary, spurring hope among activists she will put the issue at the center of U.S. economic policy for the first time.

Yellen, President-elect Joe Biden’s nominee to lead the Treasury Department, has already endorsed a tax on carbon dioxide emissions and urged countries to set up independent councils that can pursue aggressive climate policies without political interference.