Yellen says $3T needed annually to ensure shift to low-carbon global economy (NASDAQ:ICLN)

Treasury Secretary Janet Yellen said Saturday that the global transition to a low carbon economy will require $3T in new capital each year through 2050, far above current financing.

Speaking in Brazil after meeting with G20 finance ministers to discuss economic development, Yellen said stronger climate finance policies are needed to address the “existential threat” of climate change, which will require leadership far beyond U.S. borders.