Treasury Secretary Janet Yellen said private financing, and not just government spending, will be needed tackle the “existential threat” of climate change.
The overall cost of achieving net-zero carbon emissions by 2050 -- in line with the 2015 Paris Agreement that the U.S. has rejoined -- could run to $2.5 trillion over 10 years for the U.S. alone, according to one estimate, Yellen said in a speech to a virtual conference Wednesday organized by the Institute of International Finance.
