Inflation Reduction Pact

Relatively unnoticed, in August of last year, the Congress of the United States of America voted to pass the Inflation Reduction Act (IRA). This decision may be one of the most important steps in the fight against climate change this decade. Inflation Reduction Act is a massive investment package that can fundamentally affect the current approach of Europe and other countries to green transformation. The transition to clean technologies, research, development, and production, can no longer be perceived purely as a question of reducing emissions, but also as a question of maintaining competitiveness on the global market. The green race has started and the Czech Republic should step up.