Unprecedented Climate Stakes in 2024
TL/DR –
The article discusses the contrasting approaches of Joe Biden and Donald Trump towards climate change. Biden is taking steps to address the issue, such as the passage of the Inflation Reduction Act, which invests in green manufacturing and offers incentives for buying electric cars and making homes more energy-efficient. Meanwhile, Trump, who previously withdrew from the Paris Climate Agreement and reversed numerous environmental regulations during his presidency, is re-emerging as a champion for the fossil fuel industry and reportedly seeks $1 billion in campaign support from this sector.
Climate Change: Biden vs. Trump
Donald Trump and Joe Biden starkly contrast on addressing climate change. The Biden administration has made confronting the threat of greenhouse emissions and global temperature rise its central project. The historic Inflation Reduction Act passed in 2022, commits hundreds of billions to green manufacturing in America and offers incentives for buying electric cars and making energy upgrades in homes.
Contrarily, Trump, after abandoning the Paris climate accord during his term, positions himself as a champion of the fossil fuel industry. He expresses a desire to boost America’s fossil fuel dependency and has reportedly sought $1 billion in 2024 campaign support from the fossil fuel industry, pledging to greenlight new oil and gas leases and oppose green power.
Biden’s Approach to Climate Change
National Climate Advisor Ali Zaidi discusses the significant progress made in combating climate change under Biden administration. The 2024 election represents a crucial “inflection point” for the nation in terms of rising to the scientific imperative and the economic opportunity of curbing global emissions.
When Biden took over from Trump in 2021, the previous administration had left the Paris Climate Agreement, executed numerous regulatory rollbacks on emissions, and the US lagged in the private sector’s capacity to produce climate change solutions. Biden’s administration has since worked towards increasing America’s manufacturing of green technology and reducing emissions.
Effects of the Inflation Reduction Act
The Inflation Reduction Act has resulted in visible transformations in America’s economy, sourcing solar panels, batteries, and wind turbines domestically. It has also incentivized agriculture practices that help absorb carbon from the atmosphere. There has been a significant shift in the transportation sector as well, with the number of charging stations nearly doubling since Biden took office and the deployment of electric vehicles quadrupling.
IRA’s Electric Vehicle Credits
Under the IRA, consumers can receive substantial incentives towards the purchase of electric vehicles. There are now over 11,000 dealerships around the country participating in the Treasury Department’s program, offering significant discounts on American-made electric vehicles.
Other Consumer Benefits of the IRA
The IRA also includes funding for home improvements that can lower energy usage, such as installing more efficient windows or HVAC units. This is achieved through zero-interest loans from community banks and credit unions.
Civilian Climate Corps
The Civilian Climate Corps, a part of the IRA, offers young people the opportunity to engage in climate-related work and receive job training. The first class of 20,000 will begin work in summer and fall.
Progress towards Emission Reduction Goals
As of now, America is on track to reduce peak climate emissions by more than 40% by 2030. This significant progress depends heavily on the continuation of the current policy focus under the Biden administration. The upcoming 2024 election could, therefore, significantly impact America’s future carbon footprint.
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