哥伦比亚大学全球能源政策中心主任 博尔多夫：美国里程碑式的气候法案.pdf
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December 2022 | FINANCE & DEVELOPMENT 35
AMERICA’S
LANDMARK
CLIMATE LAW
The Ination Reduction Act must spur virtuous competition, not vicious protectionism
Jason Bordo
T
he Ination Reduction Act is the most
signicant piece of climate legislation
in the history of the United States. It
will deploy nearly $400 billion over
the coming decade to slash carbon emissions.
By lowering the cost of clean energy technol-
ogies, the law can accelerate their deployment
not only at home but abroad. But to achieve its
full climate potential, US diplomats and trade
ocials must now ensure that the large subsidies
and domestic manufacturing requirements in
the law spur the right mix of competition and
cooperation from other countries, rather than
feed the growing forces of protectionism that
could stymie a clean energy transition.
e law’s successful passage after decades of
congressional stalemate reects not only growing
alarm over climate change but also two notable
shifts in strategy. First, carrots work better than
sticks to build political support, and thus the
law subsidizes clean energy rather than taxing
or restricting carbon pollution—despite a large
academic literature demonstrating the economic
eciency of a carbon price. Second, the law
explicitly favors clean energy manufactured in
the United States, part of a broader shift evi-
dent elsewhere, such as a recent law to boost
the domestic semiconductor industry, toward
“industrial policy”—a catchall phrase referring
to government intervention to promote and
protect rms in targeted and strategic sectors.
is policy approach oers several benets. It
is likely more durable against political shifts, as
opponents will be more wary of removing tax
ART: ISTOCK / DOUGLAS RISSING
THE SCRAMBLE FOR ENERGY
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