President Biden's 2035 Climate Target and Clean Energy Initiatives
In a significant move, the U.S. has set a new goal to decrease economy-wide greenhouse gas emissions by 61-66% below 2005 levels by 2035, aligning with the broader aim of achieving net-zero emissions by 2050. The strategy to achieve these goals involves leveraging investments from the Inflation Reduction Act (IRA) and the Bipartisan Infrastructure Law (BIL), implementing federal standards, and fostering collaboration across various government levels.
The impact of these initiatives is already evident, with over $450 billion in private-sector investment in clean energy projects since 2021. This investment has not only driven technological advancements but has also led to the creation of millions of good-paying union jobs, particularly highlighted in states like Arizona, California, and Georgia.
Technological progress in clean energy generation, battery storage, energy efficiency, clean steel and concrete production, and the development of clean hydrogen and electric vehicles (EVs) has been remarkable. Costs for solar and wind energy have significantly decreased, making renewable energy more competitive. Additionally, advancements in battery storage and energy efficiency standards are enhancing grid flexibility and consumer savings.
Federal leadership is key in driving sustainability efforts, with initiatives to transition federal buildings and fleets to sustainable practices. Collaborations with state and Tribal governments are crucial for implementing Climate Action Plans and procuring low-carbon materials, while subnational governments' involvement in implementing climate policies is pivotal for scalable solutions.
The Clean Energy Revolution is not just transforming the U.S. energy landscape but also advancing environmental justice, public health, and energy security. These efforts underscore the nation's commitment to global climate action and establish it as a focal point for clean energy innovation.
SOURCE: whitehouse.gov (https://lnkd.in/gSMGfyvG)