August 5, 2022 — The following was released by Fishery Friendly Climate Action:

The Inflation Reduction Act introduced in the Senate last week has been lauded as the most
significant piece of climate legislation in history and a last chance to put the U.S. on track to
meet greenhouse gas emissions reduction targets. Almost unthinkable a mere week and a half ago, the new bill could position the U.S. to reduce its greenhouse gas emissions by about 40% from peak levels by 2030, compared to estimates of 24% to 35% without any new policies.

For commercial fishing communities, who are among the Americans most directly affected by climate change, passage of the Act would have another important benefit, especially when contrasted with an emissions-reduction scenario based on presidential action alone. With its power of the purse, Congress has the opportunity to throw a kitchen sink of subsidies and tax incentives at a diverse array of emissions-reductions technologies, each of which can contribute in its own way solving the climate crisis. These include tax credits, grants, and loans for energy efficient buildings and appliances, solar energy, carbon capture and storage, hydrogen, geothermal, biofuels, sustainable aviation fuel, soil carbon conservation, low-carbon construction materials, and many more.

In contrast, a purely presidential approach would lean almost exclusively on fast-tracking industrial offshore wind in federally managed waters – a move that stands to endanger coastal communities more than climate change alone would do. Accelerating offshore wind development has been a major concern of coastal communities worldwide, and the U.S. fishing industry stands united under the leadership of the Responsible Offshore Development Alliance (RODA) in seeking to address these concerns. While the Inflation Reduction Act does include supports for offshore wind development — including the reinstatement of a production tax credit for turbine components and wind farm construction vessels, as well as a directive to the Department of Interior to issue wind energy leases in the Gulf of Mexico, South Atlantic, and U.S. territories — it also extends, reinstates, introduces, and increases a panoply of incentives to support the growth of other, more fishery friendly climate solutions. 

At this critical juncture in the race to solve climate change, it is vital to have a full range of options in the mix – not only for achieving emissions targets faster, but because this diversity allows for greater selectivity when choosing the most appropriate mix of emissions reduction strategies for a given region, state, or community.

To be clear, the Inflation Reduction Act is far from perfect. Simply fanning the flames of low-carbon growth will not ensure that the energy transition is just or that it respects the fragility of natural ecosystems that may find themselves in the sightlines of green development. Framers of the Inflation Reduction Act recognized this in part and took steps to embed social equity considerations into many of the Act’s incentive provisions, such as offering bonus tax credits for projects that offer prevailing wages and apprenticeships, utilize domestic content, or are located in economically disadvantaged communities and communities formerly dependent on fossil fuel production. 

Unfortunately, the Act neglects to include analogous provisions that would protect landscapes, seascapes, and resource dependent communities from the most damaging aspects of industrial low-carbon energy development. For example, there is no incentive to place solar arrays on rooftops instead of clearcutting forests, and no incentive to place wind turbines on working farms where they can supplement agricultural incomes instead of placing them offshore where they may displace fishermen from their traditional fishing grounds and cause untold ecological impacts. A more ideal version of the Act would lift up the most environmentally friendly climate solutions by introducing bonus incentives for projects that boast low environmental impacts, deliver environmental co-benefits, and count on local community support. 

Nonetheless, given the short timeline available Congress to act, the best thing that fishermen and their allies can do right now is to advocate for the Act’s passage. Not only is the Inflation Reduction Act the country’s best chance to keep its greenhouse gas emissions within levels that are safe for the climate; it is also fishing communities’ best hope for a national climate plan that is not almost exclusively dependent on sacrificing U.S. fisheries for industrial offshore wind.