US’s shot at a sustainable future
By John D. Vincent
The Infrastructure Investment and Jobs Act recently passed by Congress and signed into law by President Joe Biden on Nov. 15 will help to fuel America’s economy for the next decade, driving sustainable and innovative growth across multiple regions and sectors.
It is less ambitious and more focused than first envisioned but, under the bipartisan deal, the IIJA will invest approximately $1 trillion in revitalizing America’s transportation, energy infrastructure, clean water infrastructure and broadband, among other priorities. Many of these initiatives will benefit from having positive environmental, social and governance attributes, which could expand the depth and breadth of sustainable investment opportunities.
Americans will benefit
There is a lot at stake here. In many cases, the infrastructure America needs must address both climate change and be socially responsible. Priorities include continued development of renewable energy (including offshore wind), enhancements to electrical transmission infrastructure and building retrofits, all to reduce carbon emissions, along with improvements to transportation and water infrastructure to respond to social needs.
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