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If goals set under the Paris Agreement are met, the world may hold warmingwell below 2 C; however, parties are not on track to deliver these commitments,increasing focus on policy implementation to close the gap between ambition andaction. Recently, the US government passed its most prominent piece of climatelegislation to date, the Inflation Reduction Act of 2022 (IRA), designed toinvest in a wide range of programs that, among other provisions, incentivizeclean energy and carbon management, encourage electrification and efficiencymeasures, reduce methane emissions, promote domestic supply chains, and addressenvironmental justice concerns. IRA's scope and complexity make modelingimportant to understand impacts on emissions and energy systems. We leverageresults from nine independent, state-of-the-art models to examine potentialimplications of key IRA provisions, showing economy wide emissions reductionsbetween 43-48% below 2005 by 2035.

Emissions and Energy Impacts of the Inflation Reduction Act