President Biden’s American Jobs Plan, at an estimated $2.3 trillion, is a long-term investment in infrastructure that will support the US’ climate goals and energy transition – aiming to catalyze a range of opportunities including job creation, increase in GDP and propel the growth of new energy systems. As for the longevity of Biden’s sustainable investments, Fawcett described the holistic and comprehensive approach as unprecedented in recent history in terms of the number of investments and commitments that are embedded across all levels of the administration. “This is going to chart the US going forward” Fawcett added.
US Government tax and regulatory policies are in flux, but are necessary to support the energy transition, echoed by corporate leadership who confirm the need for such policies. Joint global sustainability programs, such as The Paris Agreement have proved to be important steps on the path to sustainability. The UN Climate Change Conference “COP26” taking place in November 2021 was described by Fawcett as “the great agenda equalizer,” and will drive the financial sector to address climate change.
According to Citi’s comprehensive perspectives, there are abundant opportunities and incentives for return on sustainable investment in the US over the coming years, and Nordic corporates are well-positioned. Nordic offshore wind, water/waste management, energy systems and urban mobility excellence paired with imminent US “sustainability revolution” is, mildly put, compelling.