The Inflation Reduction Act and bipartisan infrastructure law injected an historic level of government funding and tax credits into the clean energy marketplace, but enacting those laws has been far from drama free. Initially, some countries, including allies and trade partners, were left scratching their heads as to what it would mean for them, even spurring talk of a potential “transatlantic trade war” though that rhetoric proved to be overblown.
But countries around the world are stepping up their game in response to the US’ foray into massive climate and clean energy spending. Akshay Honnatti, the leader of EY’s sustainability tax and incentives practice, joined the podcast to discuss initiatives going on in Canada and elsewhere to level the playing field, and how investors are weighing whether to take their clean tech projects to the US or Canada. He spoke about the potential for crossborder partnerships and what’s needed for the growing interest in green energy subsidies around the world to not turn hostile and create geopolitical divide.
Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.
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This podcast was produced by Jasmin Melvin in Washington and Jennifer Pedrick in Houston.