The False Promise of the IRA – The US Passes the Buck, Hoping Private Companies Will Magically Foot the Bill on the Climate Crisis
As evidenced by limiting space for attendees and leaving no room for questions, the US remains a global leader in enforcing the status quo and shirking responsibility, wishing for the private sector to solve the climate crisis instead.
Presidential Envoy for Climate John Kerry praised industry and insisted that the only way to address the climate crisis was to partner with private corporations. Kerry talked proudly about how the IRA had mobilized corporations to invest in dangerous, energy intensive technologies like carbon capture and hydrogen. His speech was followed by a slew of corporate heads who praised John Kerry and bragged about the profits in store from developing and exporting carbon scams.
The Biden Administration’s Clean Energy advisor John Podesta touted the Inflation Reduction Act as a pillar of industry as well as inclusive of the communities previously left out — going further to say that it was designed with such communities in mind, alluding to Justice40 and the White House Environmental Justice Advisory Council (WHEJAC). While there are a few pieces of the IRA worth praising, the developing, passing and implementation of the IRA were and are done with little frontline communities’ leadership, expertise, and input. We are again experiencing the same dynamics and challenges of accessing resources as we always have — especially when expected to compete with private companies with powerful arsenals built on extracted wealth from our communities.
The profit-driven nature of COP28 runs counter to the issue it supposedly aims to solve— there is no questioning of the system of extraction and maximizing financial returns that led to the climate crisis in the first place. There is too much at stake to allow global leaders and corporations to rely on capitalist financial mechanisms - our futures are not for sale. |