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Climate Action and the Inflation Reduction Act: A Guide for Local Government Leaders

Climate Action and the Inflation Reduction Act: A Guide for Local Government Leaders

Full Title: Climate Action and the Inflation Reduction Act: A Guide for Local Government Leaders
Author(s): C40 Cities Climate Leadership Group, City Scale, Climate Mayors
Publisher(s): C40 Cities
Publication Date: October 20, 2022
Full Text: Download Resource
Description (excerpt):

The Inflation Reduction Act of 2022 (IRA) is the largest investment in climate action ever made by the United States. It will provide more than US$369 billion for climate solutions and environmental justice and put the United States on a path to cut carbon emission by an estimated 40% by 2030. The IRA is unique in that it is designed to leverage billions of dollars of additional private investment through the use of tax credits and other financing incentives. The ultimate impact of the IRA will depend on if and how business, individuals, state and local governments, and community partners take advantage of these incentives.

This guidebook is intended to help mayors and their staff to understand the climate provisions included in the IRA, the opportunities for local government, and the multiple roles that mayors can play in maximising the benefits of the law, while actively minimising the real and potential harms posed to frontline communities exposed to fossil fuel infrastructure and development. It builds on How states and cities can benefit from climate investments in the Inflation Reduction Act, published in August 2022.

The guidebook details the major programmes that fund local government directly, those available to community-based organisations, programmes administered through states, as well as the consumer and business tax credits. For each, it describes what the funding can be used for, how it will flow, and the process and timeline for accessing resources.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of OurEnergyPolicy.org, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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