(Bloomberg) --
The sweeping Inflation Reduction Act just passed by Congress will not only slash planet-warming greenhouse gas emissions, Democrats say, it will steer record funding to programs supporting environmental justice — that is, addressing the legacy of disproportionate environmental harm in low-income and minority communities and ensuring they are treated fairly in the future.
which President Joe Biden is expected to sign into law today —
- $27 billion for the establishment of a Greenhouse Gas Reduction Fund to provide low-cost financing for clean energy infrastructure projects around the country, 40% reserved for disadvantaged communities
the money for helping communities adapt to climate impacts will come up short.
Manchin has said he secured from Democratic leadership to advance separate legislation next month, to complete a natural gas pipeline in his home state of West Virginia and reform permitting for energy infrastructure. Permitting reform could potentially speed the construction of new transmission lines for clean energy, but also fossil fuel pipelines.
Activists are now gearing up for that battle. And they plan to keep pushing Biden and lawmakers to create a Civilian Climate Corps, a version of the New Deal-era Civilian Conservation Corps retooled for the climate age.
senior advisor for environmental justice
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
