IEA Secretary-General: "US IRA Important... Will Encourage Clean Energy Investment"

[Asia Economy Reporter Kwak Minjae] Fatih Birol, Executive Director of the International Energy Agency (IEA), evaluated the United States' Inflation Reduction Act (IRA) as an important policy to address climate change.

[Image source=Yonhap News]

On the 17th (local time), Fatih Birol, attending as a panelist at the Energy Security session of the World Economic Forum (WEF) held in Davos, Switzerland, stated, "The new U.S. legislation to fight inflation is the most important climate agreement since the Paris Climate Accord."

He emphasized, "The U.S. IRA will drive investment in cleaner energy," adding, "Energy security is currently the biggest driver of climate-related investments."

Enacted last year in the United States, the IRA primarily provides tax benefits for electric vehicles and batteries made in the U.S. It allocates $370 billion (approximately 470 trillion won) in subsidies for green energy.

This content was produced with the assistance of AI translation services.