With the content emphasizing investment in clean energy, the new US law on inflation can be considered the most important document on climate since the Paris Agreement on climate change was signed at the end of the year. 2015.
This is the statement of the Executive Director (CEO) of the International Energy Agency (IEA) Fatih Birol at a conference on energy security within the framework of the ongoing World Economic Forum (WEF) in Davos, Switzerland.
Mr. Birol affirmed that the US Inflation Reduction Act (IRA) will promote investment in cleaner energy. and currently energy security is the biggest driver of climate investment.
Meanwhile, Vicki Hollub, CEO of US oil producer Occidental Petroleum Corp, said that the IRA is one of the most transformative legislation ever signed, and the development of new technologies. in dire need of subsidies as outlined in the Act.
[Quan chức EU kêu gọi khiếu nại Đạo luật Giảm lạm phát của Mỹ lên WTO]
Last year, US President Joe Biden signed into law the $430 billion IRA Act, which has many contents to help promote clean energy use.
It’s a tax exemption for electric vehicles made in North America; supporting the US battery supply chain; subsidize companies and consumers to transition to green technology and protect the environment.
In addition, the IRA stipulates that a minimum corporate tax rate of 15% is imposed on companies with revenue of more than $1 billion per year.
Many EU countries have welcomed this new commitment to the energy transition, but there are also concerns that new trade barriers in the IRA create unfair competition, which could affect affect EU electric vehicle manufacturers.
Minh Tam (VNA/Vietnam+)