August 8, 2022

WASHINGTON, D.C. — Following the U.S. Senate’s passage of the Inflation Reduction Act, the CEO Climate Dialogue, a broad-based coalition of four leading environmental organizations and 22 top businesses representing multiple sectors across the U.S. economy—manufacturing, utilities, agriculture and food, energy and resources, automotive, chemicals, and financial services—released the following statement: 

 

"The CEO Climate Dialogue has long called for federal action on climate and are pleased by the passage of the Inflation Reduction Act that will make historic investments in reducing carbon emissions and accelerating the U.S. transition to a strong, low-carbon economy. 

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"The CEO Climate Dialogue is united in recognizing that as climate risks continue to intensify, so does the urgency to put in place policies that will put us on path to net-zero by 2050 by accelerating the transition to a low-carbon economy, bolstering investment and innovation in clean energy technologies, creating jobs, promoting equity, and increasing U.S. economic competitiveness.  We commend the U.S. Senate for heeding this urgent call and urge the U.S. House of Representatives to quickly pass this bill so it can be signed into law by President Biden.

 

"If enacted this legislation would allow us to make significant progress toward meeting our economic and climate goals. Combined with future action like the enactment of a price on carbon, these policies will create a strong and sustainable economy."

 

The CEO Climate Dialogue has been a leading, consistent voice calling for the enactment of climate policies that support a strong economy. Members of the CEO Climate Dialogue met with key members of Congress on July 26th, a day before the introduction of the Inflation Reduction Act, to express this urgency and to advocate for federal action on climate, particularly the advancement of market-based climate policies—such as an economy-wide price on carbon—that are needed to meet the scope and scale of the climate crisis. The CEO Climate Dialogue were early to voice support for the Inflation Reduction Act and our members were proactive in publicly calling for the bill’s passage.