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Yellen, Lagarde Call On Private Sector to Mobilize on Climate

  • U.S. Treasury chief cites ‘massive’ need for investment
  • ECB president applauds initiative for green-label criteria
Janet Yellen

Janet Yellen

Photographer: Andrew Harrer/Bloomberg

U.S. Treasury Secretary Janet Yellen and European Central Bank President Christine Lagarde wrapped up a week of international events focused on fighting climate change by renewing their call to financial institutions and investors to mobilize private capital in the effort.

“We obviously need a massive amount of private investment to green the global economy,” Yellen said Friday during a virtual panel session on climate change and capital markets organized by Bloomberg LP.