While Congress has committed hundreds of billions of dollars to advance decarbonization in the United States, trillions more in private investment are needed for the country to reach its climate goals. The Nicholas Institute and the Fuqua School of Business convened From Billions to Trillions: The Inflation Reduction Act as a Catalyst for Private Investment, a day-long summit in February 2024 to create a shared vision for unleashing private capital for climate solutions. Panelists offered insights into how the influx of federal funding from the Inflation Reduction Act, CHIPS and Science Act, and the bipartisan Infrastructure Investment and Jobs Act will impact and stimulate private green investment.
The summit featured an all-star lineup of public officials and business leaders in conversation with Duke faculty. The keynote speaker was John Podesta, Senior Advisor to President Biden for Clean Energy and Innovation Implementation, and panelists included Gregg Lowe, CEO, Wolfspeed; Jigar Shah, Director of the Loans Program Office, US Department of Energy; Antha Williams, Leader of Global Climate & Environment Programs, Bloomberg Philanthropies; Melissa James, Vice Chairman, Morgan Stanley; and Mark Florian, Managing Partner and Head, BlackRock Global Infrastructure Funds. This initial gathering laid the groundwork for an annual event, with a second summit scheduled for early 2025.