The passage of the Inflation Reduction Act is a bold step towards rapidly reducing U.S. emissions and limiting global warming, at a time when we really need to make swift strides towards our climate goals. Although the legislation doesn’t go quite far enough, it remains the biggest investment that the United States has ever made in clean energy and decarbonizing our economy.
To rapidly decarbonize and halve U.S. emissions by 2030, which is the goal that allows us to limit global warming to 1.5 degrees Celsius, we need leadership at every level of the economy. Small and medium-sized businesses (SMEs), which represent a significant amount of job creation and economic activity in the U.S. are already taking steps to address climate change and build resilient business futures by reducing their emissions.
Alone, the impact of one small business appears minimal compared to the global climate challenge, especially next to the activity of the largest corporations and heaviest polluters. But together, SMEs make up
90% of businesses
worldwide, affect the livelihoods of over two billion people, and drive innovation that reaches the biggest business leaders. That’s a force to be reckoned with.