With all the discouraging news on the impacts of climate change on our world, the arrival of the Inflation Reduction Act (IRA), which was signed into law by President Biden this August is a ray of hope. This groundbreaking legislation contains the biggest package of climate investments in US history, by a wide margin.
The global energy crisis created by Russia’s invasion of Ukraine has had unprecedented consequences for the European Union (EU). Despite major investments and commitments to transition toward clean, low-carbon, renewable sources of energy and fuel over the past decade-plus, most of the EU member states were reliant on cheap Russian natural gas. By almost any measure, Germany has felt the greatest effects, but Germany is certainly not alone.