During a virtual conference that took place on Earth Day, President Joe Biden announced that the U.S. is committed to cutting its CO2 emissions in half by 2030.
As he explained his administration is moving forwaird with “the most ambitious climate agenda in our Nation’s history.” The clean energy plan aims to create millions of union jobs, ensure US’s economic competitiveness, and improve the health and security of communities.
By making those investments and putting millions of Americans to work, the United States will be able to cut our greenhouse gas emissions in half by 2030
The announcement comes to reiterate the US’s contribution to the Paris Climate Accord, which the Biden administration rejoined earlier this year.
However, the did not include much details on how the country will achieve such a radical reduction in carbon emissions.
According to the White House, the US concluded to this target aftera careful industry-by-industry analysis. More specifically, it includes:
- A plan for a CO2-free electrical power sector by 2035;
- Higher fuel efficiency for cars and trucks;
- Support for the electric vehicle market;
- Renewable fuel pilot programs, including options for aviation;
- Support for early-stage renewable hydrogen production;
- Cuts in emissions of methane and other non-CO2 GHGs;
- Ocean-based solutions for carbon absorption.
Commenting on the announcement, Dr. Nathan Hultman of the University of Maryland’s School of Public Policy said that while the target is achievable, it would require significant regulatory action and new measures from Congress.
What is more, the announcement was met with skepticism, with Senate minority leader Mitch McConnell warning that the plan would “kill jobs”. Mitch McConnell also pointed to low emissions compliance by other Paris Accord signatory nations.
In addition, the American Petroleum Institute stated that it supports the reduction of carbon emissions, and pledged to work with the administration.
As the administration reviews the impacts of climate change on the financial sector, any future regulatory actions must be workable for all industries, support access to capital for all sectors, and avoid a one-size-fits-all, prescriptive approach that would only stifle the innovative work underway in the private sector to manage climate-related risks and opportunities
explained API Vice President of Corporate Policy Stephen Comstock.
Moreover, recently, amid an increasing pressure towards shipping decarbonization, the US climate envoy John Kerry called the IMO to guide the industry towards zero emissions by 2050.
Speaking on the sidelines of a conference hosted by the Ocean Conservancy, ahead of a climate leaders summit, Kerry said the US will join the international effort to achieve zero emissions by 2050 and will help deploy the technologies needed, which he said are “known” but require investment to scale up.