The bipartisan infrastructure package that passed the U.S. House of Representatives Friday night marks an important first step toward urgently needed federal climate action. But Ceres strongly urges lawmakers in both chambers of Congress to build on this momentum in the coming days by finalizing the Build Back Better budget reconciliation package, which includes the largest-ever U.S. climate and clean energy investments, and is vital for the U.S. to meet its climate and economic goals.
“The infrastructure package headed for President Biden’s desk includes significant funding for clean energy, clean transportation, and environmental justice measures that will help our nation begin to tackle the climate crisis, while spurring long-overdue investments that will create jobs and move people and goods more efficiently around our country,” said Anne Kelly, vice president of government relations, Ceres. “We are grateful that lawmakers were able to work together across party lines on this significant achievement, and thank them for their leadership in crafting this bill.”
"The business community knows that improving our crumbling infrastructure will reap economic benefits in communities across the U.S. However, businesses also know that we cannot meet our national climate and economic goals with the infrastructure package alone,” Kelly added. “Congress must act soon to pass the Build Back Better budget package with the level of investment in a clean energy future that we need to dramatically slash climate pollution this decade. We urge lawmakers to seize this opportunity for our nation to grow a clean, just, and competitive economy, and confront the climate crisis head-on — before it’s too late.”
The climate and environmental justice provisions in the bipartisan infrastructure package include large federal investments in electric vehicle infrastructure, public transit and intercity rail, water infrastructure, battery storage manufacturing, electric grid reliability, and pollution cleanup initiatives. Lawmakers also included resiliency funding to bolster infrastructure to better withstand extreme weather caused by climate change, and reduce electricity, transportation, and supply chain disruptions.
These measures would complement the historic investments in the Build Back Better budget reconciliation package. Boasting widespread business and public support, the Build Back Better package includes tax credits and other incentives to advance clean energy, transportation, industry, agriculture, and buildings, as well as additional environmental justice and climate resilience measures. Together, these provisions would put the U.S. in a position to meet its national target of reducing climate pollution at least 50% by 2030 by directing investment toward innovative clean technologies, while stabilizing utility costs, creating jobs, and advancing environmental and climate justice in communities that are unfairly affected by pollution.
Throughout 2021, major companies and investors have advocated for Congress to include strong climate and environmental justice policies in the infrastructure and budget packages. These efforts have included the annual LEAD on Climate lobbying push in May and the America Is All In coalition’s Hill Day in July. Ceres also organized more than 160 companies and investors that signed a letter urging Congress to include the strongest possible climate measures in the Build Back Better package. And the three founding partners of the Investor Agenda coalition recently called for passage of a budget reconciliation package with the bold climate provisions.
Many of these companies and investors continue to push Congress to adopt these policies as part of the budget package.
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.