Yesterday, we reviewed three of the American Inflation Reduction Act's key climate and energy provisions. Today, in this third instalment, we address the rest of the Act's key climate and energy provisions: Agriculture & Forestry, Electric Transmission, Advanced Manufacturing and Decarbonization, Alternative Fuel and Low-Emission Aviation Technology Program, Water Infrastructure, Other Climate Provisions, Environmental Permitting and Reviews, and Climate Resiliency.
The IRA includes multiple provisions targeted at the agricultural and forestry sectors, including programs aimed both at reducing GHG emissions from these sectors and promoting agricultural and silvicultural carbon sequestration. Unlike industrial facilities and vehicles, the GHGs associated with the agricultural sector are more diffuse and not readily controlled with technological requirements. The IRA would provide funding for several agricultural conservation purposes, including to improve soil carbon uptake and retention, to reduce nitrogen losses, and to reduce GHG emissions. The funding could also be used for capturing GHG emissions associated with agricultural production. Hundreds of millions of dollars would also be available to provide grants to increase the sale and use of agricultural commodity-based fuels. The IRA would provide over $2 billion for the National Forest System to support vegetation management projects and the protection of old-growth forests.
F. Advanced Manufacturing and Decarbonization.
The IRA would provide financial assistance to industrial manufacturers to install, retrofit, or implement technology designed to accelerate GHG emissions reduction at manufacturing facilities, like those that produce iron, steel, steel mill products, aluminum, cement, concrete, glass, pulp, paper, industrial ceramics, chemicals, and other energy intensive industrial processes.
G. Alternative Fuel and Low-Emission Aviation Technology Program.
The IRA would establish a grant program with nearly a quarter-billion dollars available for projects relating to the production, transportation, blending, or storage of sustainable aviation fuel, plus nearly $50 million for projects relating to low-emission aviation technologies.
J. Environmental Permitting and Reviews.
In addition, the IRA funds a $1.893 billion "Neighborhood Access and Equity Grant Program" for the Federal Highway Administration to, among other aims, improve walkability, safety, and affordable transportation in disadvantaged or underserved communities. There is an additional nearly $1.1 billion allocated for projects in economically disadvantaged or underserved communities.
The fourth and last instalment to be published tomorrow will address the Act's focus on Tax Credits, and provide a conclusion to this bulletin series.
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