There’s been more movement toward climate action in the last week than in the entirety of the previous Administration.
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Hi John,
Between increasing global commitments in progress at COP26 (including the recent US-China agreement
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on climate action), the passage of the bipartisan infrastructure bill, and continued pressure for the passage of Build Back Better Act, there’s been more movement toward climate action in the last week than in the entirety of the previous Administration.
Here’s the topline: While there is still a lot to be accomplished, both here in the US and overseas in Glasgow, policymakers are prioritizing a technology-inclusive approach that leverages every clean energy technology available and significantly invests in clean tech innovation to bring emerging technologies to market.
1. INFRASTRUCTURE FINALLY PASSED THE HOUSE
Last Friday, the House passed the Infrastructure Investment and Jobs Act (IIJA), otherwise known as the bipartisan infrastructure bill. President Biden is expected to sign the historic $1.2 trillion legislation into law on Monday.
Ryan Fitzpatrick, Director of the Climate and Energy Program here at Third Way, put out a helpful thread
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breaking down some of the best provisions in the bill, including:
→ $30B for innovation, which encompasses $2.5B for two advanced nuclear demonstrations, $3.5B for carbon capture demonstrations, and $500M for industrial decarbonization demonstrations
→ $3.5B for four Direct Air Capture hubs
→ $5B to help states deploy EV charging infrastructure and $3.5B for EV and alternative fuel recharging infrastructure
As we’ve explained before, these are all *really important* investments to build out infrastructure in existing and emerging clean energy industries. It’s also a significant legislative achievement for President Biden, Senator Schumer, and Speaker Pelosi, who worked through painstaking negotiations to get this bill over the finish line.
IIJA is a significant accomplishment, but we still need the accompanying Build Back Better Act. Only the two plans in tandem can fully unlock our clean energy potential and catalyze clean energy investments that will support new jobs across the country and position the US as a leading producer of clean energy technologies.
You can read Third Way’s full statement on IIJA’s passage here
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2. THE GLOBAL MARKET FOR ADVANCED NUCLEAR IS GROWING
We updated our Global Market for Advanced Nuclear
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map to provide a comprehensive assessment of global nuclear readiness in 148 countries, including a deep dive into 12 focus countries of particular interest. In addition to forecasting electricity demand growth, the 2021 update includes projected demand for coal replacement, EVs, desalination, and industrial energy applications, demand that could be met by firm, dispatchable nuclear energy.
World leaders are serious about harnessing the capabilities of nuclear technology. Just last week, the US and Romania entered into an agreement to construct a NuScale SMR plant in Romania, which will be the first of its kind in Europe. Our own Josh Freed moderated a conversation
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between NuScale CEO John Hopkins and Nuclearelectrica (Romania’s sole nuclear energy producer) CEO Cosmin Ghita. We’re now seeing the emergence of a real market for what was once considered pipedream.
The State Department also pledged $25 million
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to expand global access to nuclear energy for power, hydrogen production, and other applications, ensuring both developed and emerging technologies can reap the benefits of clean, reliable, nuclear energy.
Clearly, international markets are ready for advanced nuclear, and the industry is responding. Advanced reactors are turning a corner
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toward deployment and commercialization and the US is poised to lead the world in this emerging industry.
3. BUILDING BACK BETTER MEANS BUYING CLEANER
There’s been a lot of talk at COP26 about the importance of reducing emissions from hard-to-abate sectors. Moreover, the Build Back Better Act contains several provisions
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targeting industrial decarbonization to reduce emissions from heavy sectors while spurring our domestic clean manufacturing industry.
But in order for businesses and governments to purchase and build with cleaner industrial materials, they have to understand the carbon footprint of industrial products like cement, steel, and aluminum. Just like food and beverage manufacturers must disclose the caloric content of their products, industrial manufacturers should similarly disclose the embodied carbon emissions of the materials they sell around the world.
Luckily, there’s a universal solution available: they’re called environmental product declarations (EPD), and they’re supported
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by industry, labor, and environmental groups. EPDs could become the bedrock of carbon transparency; studies from Washington State even found that EPD disclosures alone
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reduced emissions from concrete production by 20%.
The Build Back Better Act includes $250 million to launch an EPD assistance program. You can learn more about EPDs in our new animation here
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4. WHAT WE’RE READING
John Oliver’s main story this week on Last Week Tonight
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focuses on the US power grid, which is severely outdated and wholly unprepared to accommodate total electrification of the power sector. Oliver provided background information on our grid sector and summarized some of the serious challenges facing our grid today, which are the root of major blackouts across the US, including the deadly blackout that hit Texas last spring..
Global attitudes toward nuclear have shifted over the past several years, as Robinson Meyer explains in his latest piece
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for The Atlantic. As he goes on to explain, the US, Russia, and France all include nuclear in their decarbonization plans and have cited the technology as a critical firm source of power.
The Economist provides a recent deep dive on the cement industry
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, including some of the companies that are innovating low-carbon alternatives to an industrial product that’s responsible for a significant amount of greenhouse gas emissions.
Let’s keep the conversation going,
Carly Berke
Climate and Energy Press Coordinator | Third Way
818.422.2759 :: @ThirdWayEnergy
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Jared DeWese
Senior Communications Advisor | Third Way
202.427.3709 :: @jareddewese
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Mary Sagatelova
Communications and Content Advisor | Third Way
216.394.7615 :: @MarySagatelova
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