Congress Must Pass ‘Build Back Better’ Package and Spur Climate Investments

We believe there is no smarter, better investment for Congress to make than in robust and ambitious federal policies to combat the urgent threat of climate change.

Impax Asset Management supports the climate provisions in the “Build Back Better” budget package, including i) the Clean Electricity Payment Program, to jumpstart our transition to a more sustainable electric grid, ii) expanded incentives for companies and consumers to choose clean energy and transportation, and iii) measures to encourage research and development in technologies critical to achieving net zero.

For more than 20 years, Impax has organized our investments around the tremendous potential of the transition to a sustainable economy. Forward-looking companies and investors have been at the forefront of this transition, but their ambition and leadership will be undermined without the strong government policies we now need to guide the entire economy to a more resilient future.

The investment community, including Impax, is calling for urgent climate action. The Global Investor Statement to Governments on the Climate Crisis, which urges governments to raise their ambition and implement meaningful policies, is now signed by investors representing over $46 trillion in combined assets. National governments have a critical role to play in mobilizing the trillions of dollars needed to achieve the Paris climate goals. But to attract long-term private investment at the scale required, they must map out plans across all sectors of the economy.

The Build Back Better package is key for the United States to unlock the finance necessary to achieve our goals. While the Infrastructure Investments and Jobs Act also before Congress includes important clean energy, clean transportation and climate resilience measures, it, alone, is not enough.

As losses from extreme weather mount across the globe, informed investors recognize that climate inaction puts our communities and economy at greater financial risk every day. More frequent, more intense climate‑related disasters will undoubtedly prove far more costly if we don’t take action now.

Impax urges the US House and Senate to finalize the Build Back Better Act — a once-in-a-generation opportunity to spur investments into the technologies we need to tackle the climate crisis, protecting the economy and catalyzing sustainable long-term growth.