Statement of Nathaniel Keohane
President, Center for Climate and Energy Solutions
October 28, 2021
On the Biden Administration’s Build Back Better framework:
“The administration’s Build Back Better framework announced today would be a vital step toward restoring American leadership on climate and our competitiveness in the global economy. The $555 billion in climate-related spending over the next ten years would constitute the nation’s largest-ever investment in a low-carbon, resilient, prosperous future, and would be a vital down payment on the emissions reductions needed to achieve our ambitious and necessary goal of cutting climate pollution 50 to 52 percent below 2005 levels by the end of this decade.
“The clean energy tax credits have always promised to be the workhorse of the climate legislation under consideration over these past months, and they remain as the centerpiece of this package – providing the certainty and support that companies and investors need to move private capital off the sidelines and into investments in wind, solar, battery storage, clean energy manufacturing, and other zero-carbon solutions. Funding for climate resilience will also be crucial, and should be directed to the most vulnerable communities that are not only at greatest risk from climate harm but have borne the brunt of pollution in the past.
“Even with this historic investment, there is much more to be done to meet our goals and put the nation on the path to a thriving net-zero economy. More policies will be needed to accelerate that transition, take advantage of the economic opportunity it represents, and ensure that every community benefits. An escalating, economy-wide price on carbon pollution remains a critical component of any effective suite of policies to cut emissions, spur innovation and deployment of new technologies, and boost American competitiveness in the global economy.”
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About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change. Our mission is to advance strong policy and action to reduce greenhouse gas emissions, promote clean energy, and strengthen resilience to climate impacts. Learn more at www.c2es.org.