US President Biden's $370 Billion Plan for climate change causes

US President Biden's $370 Billion Plan for climate change causes?creating well-paying union employment and lowering energy costs by addressing the climate problem are key components of President Biden's economic program. Hundreds of projects across the nation have already been accelerated by President Biden's famous BIL, including those that will improve environmental justice and resilience to climate change and harsh weather.

?In this noble cause, the US passed a significant milestone last Sunday in the President's laudable plan with the proposed legislation of a $370 billion expenditure program, which will put the US back on track for an earlier stated 40% reduction in US emissions by 2030, the initiative proposes raising costs for methane emissions, providing tax credits for electric vehicles, and providing incentives for access to renewable energy sources. It will accelerate the country's economic energy transition by generating economic opportunities and boosting competitiveness.

It is envisaged that this would result in a new wave of green jobs that will compete with the strong lobby of fossil fuel interests. Structural adjustments that put clean energy, electric mobility, efficiency, and sustainable agriculture at the center of the economy, would usher in a new era of sustainability.

India as well as the rest of the world is of utmost importance. This substantial budgetary investment of incentives and policy tools aims to ensure climate justice, calibrate climate geopolitics, and prepare for the short- and long-term challenges of climate change.

Global emissions-

About 25 to 30 percent of global emissions come from the US. Cumulative emissions, as well as present emissions, contribute to climate change. Since the beginning of the Industrial Age, the US has pumped out 400 billion tons, or nearly 25% of the total global emissions. A predicted 40% reduction in emissions from present levels will be a bold statement of will for the US and a significant, practical step in the right direction for the entire planet.

The US is second in the world in terms of emissions, trailing only China, which also has some of the highest emissions per person of any wealthy, industrialized nation. India's emissions per person are ten times lower than those of the US. Up until now, the world hasn't had a chance to stop or limit ever-increasing emissions due to the lack of a clear plan supported by significant investments by the US. The significant credibility gap that existed when the US met with other nations would be closed today. As a result, this Bill is legendary and will raise the stakes and tone for previously dubious nations and organizations to resume interactions and partnerships with the US on this issue.

Paris Agreement-

During President Barack Obama's tenure, the US played a key role in establishing Paris Agreement. Subsequently, there was a U-turn on the US stand and then on the very first day of his administration, Biden overturned the decision. However, great harm was done in the process -global objectives are impacted, and the US role was unclear. President Biden's Bill assists in putting the US back on track; it would boost innovation, lower user prices, and possibly even result in softer US patent stewardship of emerging technology. Emerging economies only gain from innovation when user costs are decreased, and patent restrictions are loosened.

This Bill embodies American enlightened self-interest at its core. In terms of battery technology, renewable energy generation, electric car technology, and green jobs, US business innovation and technology have already brought the nation to a key tipping point. The nation's middle class is constantly reminded by the highest fuel costs in recent memory of the need for domestic green technologies to protect against energy tyranny brought on by far-off conflicts.

It is hoped that these pressures from everyday life will steer Americans away from the conspiracies that have rocked their democracy and toward pressing matters like the economy, employment, and, of course, climate change.

It's fantastic to have the US back in sustainability initiatives and like consumerism now the US should bring new dimensions to Environment and Sustainability initiatives. Now, onward restrict to commitments and no U-turns or slight deviations.