Target − Plan − Finance: A Framework for Climate Policy in Federal Infrastructure Legislation

A better U.S. climate policy framework calls for national targets, plans to meet the targets, and federal assistance

By Peter Fox-Penner, Mike Hagerty, Kasparas Spokas, Grant Jones, Alyssa Gutner-Davis, Rohan Janakiraman

July 2021

Urgently enacting a successful U.S. climate policy to achieve economy-wide net-zero emissions by 2050 is a historic legislative challenge—one that’s further exacerbated by a national legacy of inadequate energy infrastructure planning to meet future needs. In their “target-plan-finance” climate policy framework for federal infrastructure legislation, the authors propose a three-step methodology that is institutionally and politically designed to support sustained, decades-long U.S. climate action. This framework gives states and industry-led consortia responsibility for planning how to meet decarbonization requirements set in law by the U.S. government and backed by federal financing assistance.

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