Investment reports and industry analysis

Biden Sets U.S. Emissions Reduction Target of 61%-66% by 2035 and Commits Billions for EVs Before Trump Takes Office

Dec 19, 2024, 10:08 AM

In the final weeks of his presidency, Joe Biden has set ambitious targets to reduce U.S. greenhouse gas emissions by 61% to 66% by 2035. This initiative, which includes a commitment of billions for electric vehicles, is seen as a significant move to bolster climate action before Donald Trump assumes office. Officials from the Biden administration have indicated that much of the progress on these targets can be achieved without federal support, emphasizing a shift towards local leadership in climate initiatives. This announcement is viewed as a capstone to Biden's climate legacy, occurring amidst concerns about the implications of Trump's return to power.