Despite its name, the recently passed US Inflation Reduction Act won't do much to tame rising prices. But it will do a lot to fight climate change by slashing carbon emissions from power generation and transport, Ian Bremmer explains on GZERO World.
Interestingly, the bill offers more carrots than sticks to encourage American families and businesses to use more clean energy, Ian Bremmer tells GZERO World. Also, it responded to the Supreme Court's ruling against the Environmental Protection Agency by reaffirming the EPA's authority to regulate greenhouse gas emissions.
Of course, there's a lot of stuff that climate activists which didn't make it into the text.
But overall, the biggest takeaway is that the US government now sees itself as a helping hand for the private sector to lead the way in the battle against climate change.