In addition to the Inflation Reduction Act (IRA), which will inject R$ 2 trillion into the green economy, the United States (USA) has two other laws already passed that increase the investment landscape in industry and sustainable technologies by more than R$ 500 billion in ten years, according to a report by rmi consulting.

The estimated total unites investments planned in the IRA, in addition to the Infrastructure and Employment Act, passed last year, and the so-called CHIPS law, still pending final approval, which will finance climate-related efforts in materials science, such as the development of new chemical batteries and more efficient solar panels.

The analysis excludes additional spending on agriculture and climate related to land, reuters notes. Annual federal spending on climate and clean energy over the next five years is expected to exceed 15 times the figure of the 1990s and early 2000s, and represent about three times the investment of recent years in the U.S. against the climate crisis, according to the study.

Despite the high figures, one of the authors of the study called for an accelerated energy transition, a measure needed to curb global warming. "It's a long process that we don't have time to be as long as solar and wind power take 40 years [to overcome fossil fuels] -- we have 10 years," said researcher Jun Shepard.

It is expected that the investments announced by Joe Biden's administration could change the landscape of various climate change-related industries, such as energy and transportation. The push for electric cars and trucks, for example, prioritizing production within the U.S., tends to boost both the vehicle market and generate jobs linked to this new economy.

The U.S. package promises to cut up to 40 percent of U.S. emissions by 2030.

Source:Um só Planeta