Climate Change is Killing Our Economy.
It wasn’t built to handle this. We can’t afford to delay any longer.
View the Clean Jobs America 2021 Report
- Climate-related weather disasters cost our economy more than $145 billion in 2021 – a nearly 50% increase from last year (NOAA; link)
- Weather disasters have cost America $750 billion in the last five years. (NOAA; link)
- By 2050, 10% of U.S. GDP could be wiped out by climate disasters every year. (Swiss Re; link)
- Rising temperatures and extreme heat are projected to decrease worker productivity by $221 billion a year by 2090. (NCA; link)
- By the end of the century, climate-related weather disasters are projected to cost the U.S. $500 billion every year – almost double the economic blow America suffered during the Great Recession. (NCA; link)
Climate Change is Driving up Costs for Americans.
The trends are clear. The time to act is now.
- More than 40% of Americans live in counties directly impacted by climate disasters in 2021. (Washington Post; link)
- Average U.S. homeowners insurance premiums have risen more than 40 percent since 2009. (Bankratemonitor; link)
- Wildfire suppression cost taxpayers $2.3 billion in 2021 alone – up nearly 200 percent from a decade earlier. (NIFC: link)
- Climate-related disasters were some of the biggest inflationary forces in 2021, driving up prices for corn, soybeans, lumber and other commodities to multi-year highs. (Wall Street Journal; link)
- 97% of businesses say they have been negatively impacted by climate change. 75% of Americans say climate change is an economic threat. (Deloitte; link | Data for Progress; link)
Climate Action Powers our Economy
A cleaner economy creates jobs, helps consumers and drives growth and American competitiveness.
America Must Act — Now
Our economy cannot afford for Congress to under-respond to a crisis that is costing our country more and more every year.
To avert the worst climate impacts and ensure American business and workers reap the benefits of a clean energy future, Congress must:
Enhance Clean Energy Tax Incentives
Enhance clean energy tax incentives for 10 years to help businesses and consumers expand and benefit from clean energy and clean transportation – including investments in battery storage and electric vehicles. This includes direct pay/refundability provisions to ensure that businesses and consumers can readily access these credits and ramp up deployment of clean technologies and domestic manufacturing — and fast.
MORE: See this letter from 186 Members of Congress urging clean energy incentives.
Create a National Clean Energy Accerlerator
Create and fund a national clean energy accelerator to spur private clean energy investments and provide the financing needed to support rapid clean energy deployment in all communities.
MORE: Read this letter from E2 business leaders in support of a national climate bank of clean energy accelerator.
MORE: Read this letter to Congressional Leadership from financial institutions, industry associations, environmental non-profits, and clean energy businesses, calling for an independent, nonpartisan clean energy accelerator.
Fund Workforce Training Programs
Fund workforce training programs that open opportunities in clean energy to more Americans and ensure that low- and moderate-income communities, communities of color, communities transitioning from a fossil-based economy and rural areas are not left behind.
MORE: Read this letter from clean energy business groups to Speaker Pelosi and Majority Leader Schumer calling for strong clean energy workforce development and equity provisions in the reconciliation and infrastructure packages.
MORE: See E2’s recent report on diversity in the clean energy industry.
Fund & Support America's Clean Auto Industry
Fund and support investments in America’s clean auto industry to create jobs and better compete with Europe, China and other countries. This includes investing in clean vehicle manufacturing and R&D programs and passing point-of-sale rebates and tax incentives to buy American-made electric cars and trucks, including used vehicles.
MORE: E2’s Need for Speed factsheet outlining the economic case for urgent clean vehicles investment.
Support & Expand Clean Agriculture Technologies
Support and expand clean agriculture technologies to reduce carbon emissions from farming, help sequester carbon already in the atmosphere and grow ag-tech careers that can sustain families and farms.
MORE: See E2’s letter to House Speaker Nancy Pelosi urging climate-smart ag funding signed by 215 organizations.