Dai Qingli, President of the Paulson Institute: If the US IRA bill is realized, it may require $1 trillion

In the first half of this year, the United States officially implemented the Inflation Reduction Act (IRA), which has attracted global attention on the impact of this bill on low-carbon enterprises such as new energy around the world. Recently, IFF Vice President and Paulson Institute Vice Chairman and President Dai Qingli said at the 20th anniversary global annual meeting of the International Finance Forum (IFF) "Responding to Global Climate Change: Rules and Incentives" sub-forum that the U.S. Inflation Reduction Act (IRA) is the largest climate change bill passed in the United States, which includes renewable energy, manufacturing, housing construction and other fields. At the same time, it also includes the content of consumers, cities, and other fields and industries. Previously, it was estimated that the IRA would cost $400 billion, but new research suggests that the bill could cost $1 trillion if it were to materialize. She pointed out that in terms of carbon emissions, the IRA wants to reduce carbon emissions by 40% in the economic production area, which is based on the 2005 baseline standard. There are many people who believe that the IRA is a very good catalyst not only in terms of investment, but also in terms of technology development and financial incentives, which can contribute to the global response to the challenge of climate change, and she also emphasized that China and Europe actually have many effective incentives in this regard, and everyone can find a better and more innovative way to fight climate change together on a global scale.

(The video shows Dai Qingli speaking at the sub-forum "Responding to Global Climate Change: Rules and Incentives" at the 20th Anniversary Global Annual Conference of the International Finance Forum (IFF))

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Fu Rao

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Wu Lei, Xu Shanshan, Wang Rui