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Yellen Flags Private Capital’s Role in Climate-Change Battle

  • Yellen delivers remarks to global financial lobby group
  • Treasury chief cites need for more reliable disclosures
Janet Yellen
Janet YellenPhotographer: Elijah Nouvelage/Bloomberg
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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.