Yellen says private sector will need to fill the "gap" in the transition to a green economy

Treasury Secretary Janet Yellen said Wednesday the investment needed to transition to a green economy would be "enormous" and private financing would play a major role in its completion. While the American Jobs Plan promoted by President Joe Biden provides direct funds and tax credits toward the effort, meeting the total cost will require more. 

Yellen referenced one estimate placing the needed investment in the United States alone at $2.5 trillion over 10 years. "Private capital will need to fill most of that gap," Yellen said.