Sept 27 (Reuters) – Weather disasters linked to global warming are increasingly reducing the productive capacity of the U.S economy and sapping resources from governments, U.S. Treasury Secretary Janet Yellen said on Tuesday, arguing for an accelerated transition to renewable energy.
Yellen, in the latest of a series of campaign-flavored economic speeches touting Democratic President Joe Biden’s legislative achievements, including a $430 billion climate and healthcare spending package, said weather-related shocks were exacerbating supply chain difficulties.
“These are near-term, sharp reductions in capacity that can raise prices. The reality is that shocks that were unthinkable even a few decades ago are now presenting with alarming frequency,” Yellen said in prepared remarks at Cypress Creek Renewables, a solar power developer in Durham, North Carolina.
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