Barclays Coal Plan Exposes Reach of Biden's Inflation Reduction Act

Contributing sentiments towards policy:

60% :Signed into law by President Joe Biden in August, the IRA includes $374 billion that's earmarked to speed up the transition to clean energy, get more people to buy electric cars, and turbo-charge green technology.
50% : The bill, which also includes money to help retire coal plants, puts the US on a path to slash its emissions and even helps keep alive a long-shot global goal of limiting warming to the critical threshold of 1.5C.Barclays' new coal target for the US, which Venkatakrishnan said he expects to become official at the end of the year, would match its commitments in the UK and the European Union.
47% :Barclays Plc, one of Europe's biggest coal financiers, said its analysis of the IRA has led it to commit to wind down its funding for coal in the US five years earlier than planned.
47% : And most don't have a plan to phase out coal while those that do utilize loopholes that allow financing to continue, he said.
44% : US banks have an "abysmal record on coal," he said.

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