President David O’Neill’s Statement on Passage of Historic Federal and State Climate Legislation

“Remarkably, after decades of near-misses on major federal proposals to address climate change, the U.S. Congress has passed the Inflation Reduction Act (IRA) which includes $370 billion for climate and clean energy measures. It’s an extraordinary and historic moment, heralding the most important climate legislation ever passed in this country – and it comes just after Gov. Baker signed a landmark climate and offshore wind bill into law Thursday in Massachusetts.

The IRA provides tax credits for wind, solar, energy storage, energy efficiency, electric vehicles, heat pumps, climate-smart forestry and agriculture, climate-resilient ecosystems. It includes tens of billions of dollars in initial investments to address inequities experienced by environmental justice communities, but much more will be needed going forward.

Estimates of the legislation’s impact find that our country’s greenhouse gas emissions could be reduced by 40% in 2030. This comes close to the Biden Administration’s commitment under the Paris Agreement of a 50% reduction by 2030. Critically, the passage of this bill will restore much-needed credibility for American leadership on climate around the world, which can in turn catalyze more ambitious commitments from other major emitting countries.

In Massachusetts, the IRA’s climate provisions will also be a vital complement to the state’s own ambitious climate goals for 2030 and for net-zero by 2050, by making the transition to low-carbon, energy-saving technologies even more affordable and attractive for homeowners and businesses.  

For residents of the Commonwealth, for Mass Audubon, and for the planet, it’s a monumental step in the right direction.”