Ceres Senior Director of Federal Policy Zach Friedman issued the following statement after the United States updated its Nationally Determined Contribution (NDC) toward global efforts to limit temperature increases from reaching catastrophic levels, pledging to achieve a 61-66% reduction in climate pollution by 2035.
“Ceres applauds the U.S. for putting forward an ambitious, yet fully achievable, NDC that will position the country to capitalize on the private-sector momentum to build and deploy affordable, reliable, abundant American-made clean technologies and solutions.
“As nations around the world press to reduce pollution that is dangerously overheating the planet and global demand soars for clean energy solutions, the U.S. is well-positioned to compete and lead in these critical industries. We are in the midst of a remarkable boom in clean energy and manufacturing investment, powered by the private sector and supported by federal and state policies that have unleashed it. Establishing this clear national goal will further ensure America remains a magnet for investment that delivers advanced manufacturing jobs, lowers energy costs, and boosts U.S. national security and energy independence.
“That’s why major American businesses remain committed to staying aligned with the Paris Agreement and are calling for the U.S. to maintain its clean energy incentives and broader policy landscape. These policies provide predictability, certainty, and stability as the U.S. competes to lead in the industries that will define the future.”
Announced after the nine-year anniversary of the Paris Agreement, the new NDC comes as global investors continue to call for urgent government action to address the severe financial risks of climate change. Earlier this month, more than 650 investors with $33 trillion in assets around the world announced the 2024 Global Investor Statement. Addressed to policymakers around the world, it called for a whole-of-government approach to implement economy-wide policies in line with the Paris Agreement goal to limit average temperature rise to prevent more worsening and costly disasters. Among them are policies to support industry efforts to reduce carbon emissions from high-pollution sectors and increasing private investment in climate mitigation, resilience, and adaptation in emerging markets and developing economies.
It also comes as the clean energy tax incentives included in the federal Inflation Reduction Act have unleashed a flood of private capital into building and deploying clean energy in the U.S. over the last few years. Because the law is helping to create hundreds of thousands of jobs and delivering investment to communities in red, blue, and purple states alike, it has widespread business support and has also gained bipartisan support in Congress. Last summer, 18 Republican members of the House of Representatives called for the law’s clean energy incentives to be preserved should Republican leadership seek to repeal or reform the law. And in early December, Ceres organized meetings between dozens of business leaders and more than 40 Republican Congressional offices to make the business, financial, and economic case for maintaining the Inflation Reduction Act’s clean energy incentives.
About Ceres
Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.