Global action on climate change is imperative, U.S. Treasury Secretary Jacob Lew on Monday called on international efforts to address climate change.

"It is a good investment in global economic growth," he said at the Brookings Institution, noting that the United States must work with both industrialized economies and developing countries to address the challenge.

There was no trade-off between combatting climate change and boosting economic growth, said the secretary. "If we fail to make changes now, it will be much more costly to deal with the problem later, and some options may be foreclosed entirely," he said.

Earlier Monday, the World Bank said that 73 national and 11 regional governments and more than 1,000 companies have expressed their support for carbon pricing ahead of the UN Secretary General's Climate Summit. Endi

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