A statement from Climate Group North America Executive Director Angela Barranco:
The Inflation Reduction Act, the largest climate investment in history, stands as a testament to our shared responsibility to safeguard our planet and ensure that future generations inherit a world thriving with possibilities. One year out from the passage of the IRA we’ve seen significant progress in unlocking critical climate investments and growing the green economy.
IRA has demonstrated its prowess as a powerful tool in our fight against climate change.
As we reflect on the past year, we celebrate the impressive achievements that have stemmed from the Inflation Reduction Act. Climate Group has been proud to work with a contingent of local and state governments across the US through the Green Recovery Alliance to maximize funding and capitalize on opportunities to transform US industry across the built environment, transport, and energy sectors. With over $70 billion in grants, rebates, and other non-loan funding already available, our work to connect, inform, and prepare members for funding opportunities is more critical than ever.
Since the passage of the IRA, we’ve seen over $110 billion in clean energy investments across the private sector. Thanks to the wide variety of funding and tax credit opportunities made available to companies, our corporate members across RE100, EV100, EP100, and Steel/ConcreteZero are on track to reach their net zero targets and prioritize sustainability across all areas of their business and supply chain.
But this recognition is not just about the past—it's about looking ahead with renewed enthusiasm. Climate Group envisions a future where the principles embedded in the Inflation Reduction Act continue to guide us towards even greater feats. Together, we will work towards a world where climate action is ingrained in our way of life, where clean energy is the norm, and where our environment flourishes alongside our economies.
Let us not only celebrate our achievements but also recommit ourselves to the journey ahead. Together, we will continue to champion policies like the IRA that stimulate economic growth and demonstrate that climate action is not a trade-off, but a foundation for enduring prosperity.