Policy Toolkits and Fact Sheets
The Real Estate Roundtable works with national policymakers everywhere to build a fairer, healthier, and more equitable America.
Inflation Reduction Act of 2022 Fact Sheets
Inflation Reduction Act of 2022 - “Clean Energy” Tax Incentives Relevant to U.S. Real Estate - Fact Sheet (Sept. 20, 2022)
After passing the Senate and House on August 7 and August 12, respectively, the Inflation Reduction Act of 2022 (IRA) was signed into law by President Biden on August 16, 2022. The $790 billion legislation includes nearly $370 billion in climate spending that affects “clean energy” measures important to commercial real estate, the largest federal clean energy investment in U.S. history.
The Roundtable has encouraged Congress for a number of years to make clean energy tax incentives more usable for building owners, managers, and financiers—and more impactful to help meet national GHG reduction goals.
The SEC’s Proposed Rule on Climate- Related Disclosures for Investors
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) released its anticipated proposed rule, “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” [Read the SEC’s fact sheet.]
The proposed rule has no immediate effect. It kicks off a public comment period with stakeholder input due to the SEC by May 20, 2022 (as of this writing). The SEC’s proposed rule continues to raise a number of themes that were also discussed in The Real Estate Roundtable’s pre-rulemaking comments submitted to the SEC in June 2021.
If finalized, the proposal would become the first-ever rule requiring all companies registered with the SEC to report, measure, and quantify material risks related to climate change in their registration statements and periodic filings (such as Form 10-K). It is not only pertinent to the real estate companies that register and file with the SEC.
Below is a summary of some of the key takeaways that might be useful as Roundtable members — and their legal, accounting, and environmental experts and consultants — review the SEC’s complex, 510—page proposal on climate risk reporting.