Why the new, bolder U.S. climate goal will boost the economy – Fortune

Written by Kathleen Mclaughlin and Manish Bapna

The Biden administration just announced a bold, new greenhouse gas emissions target for 2030, setting a clear marker for climate action. The announcement comes at a critical moment as the country begins to emerge from the COVID-19 pandemic and looks to strengthen its economy and reestablish itself as a leader on the global stage. Based on analysis by several leading organizations, including the World Resources Institute (WRI), the goal to cut emissions by at least 50% below 2005 levels by 2030 is both ambitious and attainable.

Some may wonder if this is the right time for such a big commitment, given the multiple challenges the country currently faces. A growing body of evidence shows that smart climate action can propel the country out of the pandemic, while creating millions of jobs, including in rural areas and for people who need them most. As President Biden said last week in his first address to Congress, “If we act to save the planet, we can create millions of jobs, economic growth and opportunity, and raise the standard of living for most everyone around the world.”

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By Valerie Lam
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