The US’ new climate bill holds the power of rejuvenating that nation’s reputation. Additionally, it can support and push other nations to reduce emissions quickly.
All about the new Climate bill
A shocking turn of events generated a joyful whiplash among environmentalists and Democrats revealing the close ties between domestic politics and diplomacy. Initially, advocates were fearing that last month’s breakdown in negotiations was undermining the efforts needed to limit the effects of global warming. However, now they are overjoyed by the new success. “This says, ‘We’re back, baby,’” stayed Jennifer Turner. Turner is the director of the Woodrow Wilson Center’s China Environment Forum in Washington. Additionally, she works on climate issues on an international level.
Over the next decade, the climate bill allocates around $375 billion for the development of clean energy. This will ensure incentives for actions such as installing solar panels, buying electric cars, and weaning power grids off fossil fuels. Additionally, the legislation comes with provisions on prescription drugs and taxes. While the proposal was downsized during the negotiations, the climate bill is the single biggest investment for climate change in American history. Additionally, the movement on the legislation comes three months before COP27.
Combating global warming: What’s next?
The climate bill was passed by the Senate on Sunday. The house is expected to proceed in approving it on Friday before sending it to the President for final signature. “Our ability to have credibility on the global stage depends on our ability to deliver at home. We are the pace car. That helps other people go faster and faster,” stated Ali Zaidi. Zaidi is the White House’s deputy national climate advisor. As per a study by the Rhodium Group, this legislation is estimated to reduce 31 to 44 percent of emissions.
Several poor nations are concerned that rich nations are not fulfilling their promise of fulfilling financial commitments. Especially those focused on helping nations cope with climate change and transition to cleaner energy. However, Biden can point to the legislature as evidence that the US political system has the power of addressing the world’s pressing problems. “It’s good that finally, the U.S. is trying to catch up. After years of dragging its feet on climate change and this investment will go a long way to undoing some of the harm caused by the administration of President Trump,” said Mohamed Adow. Adow is the director of Power Shift Africa, a think tank based in Kenya.