Path 2: Climate Action at the US Federal Level

Path 2: Climate Action at the US Federal Level

The private sector, environmental NGOs and others rejoiced in 2022 when action on climate change accelerated at the US federal level. Signed into law in August 2022, the Inflation Reduction Act (IRA) represents the US government’s most aggressive action to address climate change and will support the US goal of reducing GHG emissions 40 percent below 2005 levels. Included in the IRA is the investment of US$369 billion in energy security and climate change programs over the next ten years. Also in 2022, the Commodities and Futures Trading Commission (CFTC) took action to start regulating climate risk disclosure, and both the CFTC and Securities and Exchange Commission (SEC) delved into tokenization of carbon credits. Experts in this session will discuss the impact of the IRA and CFTC and SEC actions.