U.S. making moves on climate.

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Hi! This is Climate Tech Today, the newsletter that highlights the solutions, companies and innovators that have a fighting chance at making a significant dent in the fight against climate change.

We are rational optimists. We believe in the ingenuity of our fellow humans to save the planet, but we evaluate those humans and their ideas with data.  

In this email:

• Biden signed the Inflation Reduction Act (AKA the climate bill)

• 9 ways the IRA can help make your home more eco-friendly!

• The world's largest urban garden

CUTTING THROUGH THE NOISE - THE CLIMATE IMPACT OF THE INFLATION REDUCTION ACT

On Tuesday President Biden signed the Inflation Reduction Act into law. The $430B package is the largest investment into climate in U.S. History.

This thing is major. Its 730 pages are packed with programs to reduce the U.S. carbon footprint. There are provisions for electric vehicle manufacturing, renewable energy production, and making buildings energy efficient.

Experts estimate that by 2030 these provisions can cut greenhouse gas emissions by 42% below 2005 levels. That’s a reduction of about 1 billion metric tons compared to current policies.

So…. is that good or bad? Let’s break it down.

If average temperatures on Earth rise more than 1.5 degrees Celsius above pre-industrial levels, climate-related risks to health, ecosystems, livelihood, water supply and food security rise.

How are we doing so far? We’re about 1.1 degrees above measurements from the late 1800s. To stay within 1.5 degrees we have to cut emissions globally by 50% by 2030. By 2050 we have to reach net-zero emissions.

How does the IRA stack up? It falls short by 8 percentage points below the 2030 reduction target. While this law doesn’t get us there on its own, it’s a major pivot in the right direction!

Critics have focused on the bill’s shortcomings. Emphasizing that the bill doesn’t get us to net zero is trying to throw out the baby with the bathwater. No one said this was the only action the U.S. will take … forever. How about instead, help us figure out what else we need to do to ensure we’re on the path to hit our 2030 and 2050 targets?

The provisions in the bill get within 8 percentage points of the net-zero path by 2030. This is within 0.5 billion metric tons of emissions. That’s a major win! Let’s celebrate it, figure out how to make good on it, and find where the remaining 0.5 billion tons are going to come from.

COOL STUFF

• Home improvement: Here are 9 ways the new climate bill can help you save while making your home more energy efficient.

• Inspiring! Brazil is building the world’s largest urban garden. It will be the size of 15 soccer fields.

MEME