Statement from the American Sustainable Business Network on the passage of the Inflation Reduction Act in the Senate
The recent passage of the Inflation Reduction Act has created a moment of hope for those who have been working toward meaningful climate legislation for the past 15 years. This agreement signifies the largest federal clean energy investment in American history.
The American Sustainable Business Network (ASBN) applauds the progress to date and is grateful to Senate Majority Leader Chuck Schumer and Senate Democrats for their commitment to address the climate crisis. The agreement in the Senate will make historic investments in climate, justice, clean energy and jobs, lower costs for families, support climate-friendly agriculture, and help slash climate pollution in the U.S. by an estimated 40 percent by the end of the decade. The bill also supports critical programs to improve our families’ health and cleans up legacy pollution.
“The Senate’s vote is a historic step forward in supporting strong economic growth and addressing the climate crisis,” said David Levine, president and co-founder at ASBN. “The Inflation Reduction Act will create meaningful jobs in some of the fastest growing industries while also addressing the risk we face from unmitigated pollution. The American Sustainable Business Network supports this holistic approach and will work tirelessly to get this legislation on to President Biden’s desk and across the finish line.”
Like many in the sustainable business community, the Senate realized the cost of inaction on climate is too high and acted on the urgency of the moment. By further bringing down costs to clean technologies, we can grow our economy and create an opportunity for all American businesses and households to be a part of the solution. This legislation will take critical steps to eliminate climate pollution, prevent the most catastrophic impacts of climate change, and will make historic investments that lower costs for American businesses and families.
Upon taking office, President Biden committed to cutting climate pollution in half by 2030. The Inflation Reduction Act gets us closer to that goal – and with added solutions for pollution from the Administration – we could achieve additional emission reductions and meet this ambitious goal.
Simply put, climate can’t wait. We need to address climate change with the urgency that science demands, and in ways that create jobs and advance justice. It is our recommendation that the Senate and the House support and pass this historic bill without delay.
American Sustainable Business Network (ASBN) is a movement builder in partnership with the business and investor community. ASBN develops and advocates solutions for policymakers, business leaders, and investors that support an equitable, regenerative, and just economy that benefits all – people and planet. As a multi-issue, membership organization advocating on behalf of every business sector, size, and geography, ASBN and its association members collectively represent over 250,000 businesses across our networks. ASBN was founded through the merger of the American Sustainable Business Council and Social Venture Circle.