"The Biden administration thought that it was re-joining the climate fight. Everybody would welcome leadership from the US. In fact, the reaction, especially in Europe, has been quite hostile. It's pretty clearly a violation of the WTO.
Derek Brower
Financial Times
"The IRA programme is set up to drive green nationalism."
Jeremy Bezdek
FREYR Battery
"Europe has to respond to the Geopolitical challenge posed by the Inflation Reduction Act, which will create a real shock, and if Europe does not react in the coming weeks, a de-industrialisation of our continent."
France President Emmanuel Macron
"This bill does mark a fundamental shift away from the market-knows-best strategy. We're going to say climate change is a war that we have to win."
Rena Farooha
Financial Times
Our views.
It is clear, the US is getting ready to fight against the climate crisis by re-industustrialising its heartlands with a clear green agenda. As one commentator mentioned, the Inflation Reduction Act was set up to drive green nationalism and if Europe and the rest of the world does not act, and act fast, the market and the money will move to the US /and or China.
This is a 9-part Series. The next part will be on 'What does the Inflation Reduction Act means for Europe?'.
For the full video from FT REPORT.
Here's our other post of the Inflation Reduction Act.