Our planet is facing a catastrophic crisis: carbon dioxide concentrations in the atmosphere continue to rise above record levels. Our health, energy, water, and food ecosystems are, therefore, at risk. If not de-escalated, the collective stress of climate change will have an irreparable impact.
In its current state, climate change has many long-term effects. In North America, climate change is expected to lead to a reduced snowpack in the western mountains. It will also lead to a 5-20% increase in yields from rain-fed agriculture and high intensity of heat waves. In fact, over the past five years, the United States has suffered about $120 billion per year in damages from natural disasters caused by extreme weather and climate events.
Beyond natural disasters, climate risks to the United States will have a cascading effect on the nation’s interconnected ecosystems. Reduced labor and overall economic productivity and altered crop yields will disproportionately harm low-income and disadvantaged populations. These groups lack the resources to prepare for or cope with extreme weather and climate events.
The world is investing in clean energy innovation
Tackling the intensifying climate crisis requires a strategic combination of research and development (R&D), innovation, technology, and bold attempts.
Around the world, countries are investing in clean energy to contribute to the planet today and for generations to come. In 2022, the United States passed the Tax Cuts Act, which includes a historic $370 billion investment to address the climate crisis. The Energy Deficit Reduction Act provides tax credits and incentives to power homes, businesses, and communities with clean energy by 2030. The law will increase investment in the fastest-growing electricity generation technologies, solar and wind. It will also advance cost-effective clean energy projects and protect two million acres of national forests. These initiatives are in addition to the substantial tax credits and rebates available to families and businesses in the United States.
As a result, a stronger clean energy economy will contribute to overall economic growth and competitiveness. As a result, there will be millions of new, well-paying jobs for Americans to make clean energy.
It is possible to start decarbonizing now
Government strategies and investments in decarbonization technologies are part of the solution to producing increasingly affordable, reliable, and clean energy.
Strong communities and vibrant economies depend on a healthier planet. For example, as a global leader in power technology, Cummins is in a unique position to fuel our customers’ success by leading this energy transition.
First, by innovating zero-emission solutions and introducing them to markets and applications where the infrastructure, development and deployment are ready. Second, by advancing internal combustion engines through efficiency improvements and running them on cleaner alternative fuels for a well-to-wheel solution.
Through destination zero, Cummins is advancing toward low-carbon platforms. This includes diesel and natural gas engines, hybrid and electric platforms, and related powertrain components, controls, and technologies.
Cummins’ environmental sustainability strategy includes targets set for 2030. Progress in reducing carbon emissions from the company’s plants and facilities and its products is growing.
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