The U.S. House of Representatives today approved the Inflation Reduction Act of 2022. The bill includes about $370 billion in clean energy and climate investments over the next 10 years. After passing the Senate on August 7, the bill now goes to U.S. President Joe Biden for his expected signature to enact it into law.
The Nature Conservancy released the following statement from its CEO Jennifer Morris in response to the news:
“It is a new day for climate action in the United States. Congress has recognized the urgent need to address the climate crisis and passed the most significant clean energy and climate legislation in the history of the nation. It will put us on a path to innovate new technologies, leverage the carbon-storing powers of nature, incentivize cleaner energy and build community resilience. Importantly, it will also begin to address the disproportionate effects of air pollution and climate change on historically marginalized or underserved communities. And all of this will help our economy through job growth, improved energy security and more choices that can lower prices.
“This is a game-changing moment for people and nature in the United States and beyond. This bill can help reduce the nation’s carbon emissions by roughly 40% by 2030, putting the U.S. within reach of its international commitments. When this bill is signed into law, the world’s largest cumulative carbon emitter will commit significant resources to address the crisis head on. This legislation also sends a signal to the rest of the world, encouraging other nations to raise their ambition and continue progress toward the shared goal of keeping global warming below 1.5 degrees Celsius to avoid the worst impacts of climate change.
“We’re no longer just beginning to find solutions and create the policies and systems to make them possible. With this bill, we’re now well on our way to putting our commitments into action by providing the incentives and support needed for a rapid transition to a clean energy economy. This long-awaited action gives me renewed hope that we will be able to tell our kids and grandkids that we did our part to ensure their future.
“To be clear, our work is not done. We need to do more to address past wrongs in communities that have borne the brunt of air pollution and climate change impacts. We also have a long way to go to implement this law effectively and continue to advance federal, state and local policy changes as well as corporate and individual actions necessary to meet the challenge of our time. But today’s action gives us the momentum we need to get there.”
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in more than 70 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit nature.org or follow @nature_press on Twitter.