Despite its name, the US Inflation Reduction Act won't do much to tame rising prices. But it will do a lot to fight climate change by giving American families and businesses carrots to use more clean energy rather than sticks from guzzling fossil fuels.

What's in the bill, and how will it help accomplish the Biden administration's climate goals?

On GZERO World, Ian Bremmer speaks to US Energy Secretary Jennifer Granholm, who explains how Biden's climate bill will do things like bring back energy manufacturing jobs or help the US show up at the upcoming COP27 climate summit in Egypt as a global leader on clean energy. She also touches on Europe's current energy woes and hopes for an opening on climate cooperation with China.