The adoption of the EU’s Carbon Border Adjustment Mechanism, attention has renewed focus on how a border adjustment might impact U.S. competitiveness, how a similar policy would fare in the United States, and how how the EU CBAM will impact global trade.
C2ES and PCI came together for a fireside chat with Representative Scott Peters (D-CA), who in July 2021 introduced the FAIR Transition and Competition Act (H.R. 4534), which aims to impose a border carbon adjustment on imported goods.
Senator Sheldon Whitehouse (D-RI) joined us for a fireside chat on July 28th, 2021 to discuss the “Save our Future Act,” which he introduced last month along with Senator Brian Schatz (D-HI).
Reaching for 2030: Climate and Energy Policy Priorities
Authors: Center for Climate and Energy Solutions
Date: February 2023
The need to address climate change remains urgent. The passage of historic climate and clean-energy legislation in the past two years—the Infrastructure Investments and Jobs Act (IIJA), the CHIPS and Science Act, and the Inflation Reduction Act (IRA)—represents an important and critical down payment on U.S. climate action. Estimates project these policies could reduce U.S. greenhouse gas emissions 32 to 42 percent below 2005 levels in 2030. While this represents a significant first step toward meeting the U.S. goal under the Paris Agreement—50 to 52 percent reductions below 2005 levels by 2030 and net-zero emissions by 2050—much work remains in achieving this target. Realizing the full potential of recent advancements and accelerating progress toward a thriving, just, and resilient net-zero economy will require not only the strategic implementation of IIJA, IRA, and the CHIPS Act but also additional executive and legislative action.