The IRA challenges the European climate model The IRA challenges the European climate model

The United States’ rejection of the Kyoto Agreement in 2001 and President Donald Trump’s withdrawal from the Paris Climate Accords in 2020 gave many Europeans a sense of superiority to the United States with regard to climate change. But now, Europeans are starting to realize their leadership in the energy transition is not as secure as previously believed. They are seeing the profound competition posed by the Inflation Reduction Act (IRA)—and the economic forces it unleashes. Dr. Friedbert Pflüger, head of the European Cluster for Climate, Energy and Resource Security (EUCERS), discusses in his publication the advantages of the American Inflation Reduction Act (IRA) compared to the means of European climate policy.