View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

U.S. DEPARTMENT OF THE TREASURY
READOUT: Stakeholder Roundtable on Investor Perspectives on
Climate Change, Clean Energy, and the Inflation Reduction Act
October 31, 2022

WASHINGTON, D.C. — Today, U.S. Secretary of the Treasury Janet L. Yellen participated in a
virtual roundtable with investors and stakeholders to discuss how the public and private sectors
can work together to leverage incentives in the Inflation Reduction Act to mobilize the large
amount of capital that is needed to build a clean energy economy. According to third-party
estimates, the Inflation Reduction Act’s clean energy incentives are projected to help catalyze
trillions in private investment in energy supply infrastructure over the next decade.
The roundtable is part of a series of discussions the Treasury Department is hosting as it solicits
input from the public to inform its work implementing the Inflation Reduction Act. Nearly three
quarters of the Inflation Reduction Act’s $369 billion climate change investment – $270 billion –
is delivered via tax incentives, putting Treasury at the forefront of this landmark law.
Secretary Yellen was joined by White House Senior Advisor for Clean Energy Implementation
and Innovation John Podesta, Treasury Climate Counselor John Morton, and Treasury Assistant
Secretary for Tax Policy Lily Batchelder.
The roundtable featured 15 leaders from financial services associations, sustainable investor
alliances, sustainability-focused investment firms, state-level financial offices, and communitybased financial institutions.
Secretary Yellen highlighted how the Inflation Reduction Act provides the long-term certainty
that investors have sought for years, while introducing new incentives to scale-up key emerging
technologies, build stronger clean energy supply chains, and invest in communities that may be
at risk of being overlooked or left behind. She also emphasized how the success of the Inflation
Reduction Act rests on harnessing capital from a range of sources, including early-stage venture

capital, large global firms, community-based institutions, pension funds, and more.
The following organizations participated in today’s roundtable:
AFL-CIO Office of Investment
Amalgamated Bank
Breakthrough Energy
CalPERS
Ceres
Climate Access Fund
Financial Services Forum
Galvanize Climate Solutions
Generation Investment Management
Glasgow Financial Alliance for Net Zero
Illinois State Treasurer
National Venture Capital Association
Opportunity Finance Network
Raise Green
U.S. Sustainable Investment Forum
Last week, Yellen participated in a roundtable with leaders from across the clean power
ecosystem and Deputy Secretary Wally Adeyemo participated in a roundtable on climate impact
and equity. Treasury will also host roundtables on additional sectors, including clean vehicles
and heavy industry.

For more information on Treasury’s stakeholder engagement around Inflation Reduction Act
climate and clean energy provisions, please see:
Treasury Seeks Public Input on Implementing the Inflation Reduction Act’s Clean Energy Tax
Incentives
Fact Sheet: Treasury, IRS Open Public Comment on Implementing the Inflation Reduction
Act’s Clean Energy Tax Incentives

Fact Sheet: Four Ways the Inflation Reduction Act’s Tax Incentives Will Support Building an
Equitable Clean Energy Economy
Readout: Stakeholder Roundtable on Clean Power Generation and the Inflation Reduction
Act
Readout: Stakeholder Roundtable on Climate Impact, Equity, and the Inflation Reduction
Act