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By creating more investment certainty, the IRA makes the US a leader in the fight against climate change.

Not only are the financial incentives generous in the US but are also considered much simpler to understand that the slowly evolving regulations we have in the UK. These new IRA regulations could tilt the balance away from the UK to the US as the best place to site decarbonised industry (writes Philip Aldridge)

• The Inflation Reduction Act changes the trajectory of greenhouse gas emissions in the US, positioning it to become a global leader in the fight against climate change.
• By creating more certainty for investments in clean energy production and low-carbon materials, the act reduces the risks and costs of decarbonization.
• Companies that were tentatively moving in the direction of clean energy and green products can move more aggressively into these new businesses now, a change that will shake up trade relationships and boost the role of the US private sector in the global clean energy sector.
• The act also targets inequities exacerbated by the energy transition, setting aside funds and investment incentives that will benefit communities most affected by pollution and the energy transition.

Source: Bain & Company: Click here to read full article.