German Vice-Chancellor Robert Habeck has likened it to a “declaration of war,” so immense is the threat posed by America’s Inflation Reduction Act. Yet governments have no option but to compete with the generous subsidies and tax breaks of US reindustrialization policy or risk irrelevance in the historic race to decarbonize the global economy. Mark Carney, Chair & Head of Transition Investing, Brookfield Asset Management; Chairman of the Board, Bloomberg, Shemara Wikramanayake, Managing Director & CEO, Macquarie Group, Lei Zhang, Founder & CEO, Envision discuss with Francine Lacqua, Anchor, Bloomberg Television at the 2023 Bloomberg New Economy Forum in Singapore.
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