It is exciting to see that as a result of the open letter sent by 400 powerful business and investor voices (see quote) calling for ambitious emissions reduction target, the Biden Administration announced today the Nationally Determined Contribution (NDC) for the U.S. to achieve a 50-52% reduction from 2005 levels in economy-wide net greenhouse gas pollution by 2030. This will accelerate our transition to net-zero emissions by 2050, and bring us in line with the Paris Agreement goals .
“A bold 2030 target is needed to catalyze a zero-emissions future, spur a robust economic recovery, create millions of well-paying jobs, and allow the U.S. to ‘build back better’ from the pandemic. New investment in clean energy, energy efficiency, and clean transportation can build a strong, more equitable, and more inclusive American economy. A 2030 target will also guide the U.S. government’s approach to more sustainable and resilient infrastructure, zero-emissions vehicles and buildings, improved agricultural practices, and durable carbon removal. Finally, the commitment would inspire other industrialized nations to set bold targets of their own. Many of us have set or are setting emissions reduction goals in line with climate science since the establishment of the Paris Agreement.”