Yellen pitches infrastructure spending on the global stage to combat climate change

During her first travels overseas since being sworn into office, Treasury Secretary Janet Yellen called for spending on sustainable infrastructure to help combat climate change. And she wants the private sector to get in on the action. 

But her pitch comes as negotiations on infrastructure between the Biden administration and Republican lawmakers have been moving slowly in Washington.  Yellen is in London this week to meet with the G7 finance ministers to discuss international priorities including economic recovery from the coronavirus pandemic. She also delivered remarks at the G20 Infrastructure Investors Dialogue, which looks to increase collaboration between officials in member nations and investors. According to the Organization for Economic Cooperation and Development, the infrastructure investment gap is set to reach $15 trillion by 2040 as public and private spending declines.