Yellen Urges US Financial Watchdogs to Do More on Climate Change

Treasury Secretary Janet Yellen is calling on US financial regulators to focus more on climate change as they oversee financial markets.

Yellen on Thursday said that fallout from global warming is impacting financial services and said watchdogs should do more to mitigate risks. During a public meeting with top regulators, including Fed Chair Jerome Powell and Securities and Exchange Commission Chair Gary Gensler, she said that the environmental situation was likely to get worse.

Photographer: Kiyoshi Ota/Bloomberg

“The increasing frequency and severity of these disasters is already leading to higher premiums for homeowners insurance, with property in some parts of the ...