Efforts to wean the world’s second largest emitter off fossil fuels took a significant step forward this week, with US Congress approving legislation that aimed at turbocharging the country’s decarbonisation programme.
The Inflationary Reduction Act (IRA) will, among other things, offer financial incentives for people buying new and used electric cars, and heat pumps for homes. Tax credits will also be offered to electricity generators supplying green energy – a welcome boost for the country’s burgeoning renewables sector.
Preliminary analysis suggests that the IRA could cut US emissions by up to 44 per cent this decade. “It makes big polluters pay more than they have in a generation,” said Friends of the Earth. “It is an investment in renewables designed to support good paying jobs, domestic supply chains, and historically marginalised communities.”
However, the legislation has also disappointed climate campaigners, who say it lacks ambition and gives a lifeline to “fossil fuel industry scams”. Read the full Friends of the Earth analysis here.
Image: Gert Boers
