Combating Climate Change
It’s undeniable: our climate is changing before our very eyes.
Wildfires, floods, and hurricanes – and the risk of future climate disasters – have a significant impact on our communities and our businesses. In south San Diego County, we’ve witnessed this firsthand with historic storms and flooding in recent years that have caused so much damage to homes, businesses, and livelihoods. These extreme weather events are only growing more frequent.
I’m working to combat climate change to make sure we’re addressing this threat to our communities and our economy head-on; safeguarding clean air and water; creating good-paying clean energy jobs; and protecting our planet for future generations.
In 2022, I was proud to be a part of passing legislation that was the largest investment in clean energy and climate action ever. This transformative law is helping the United States to meet its climate goals and strengthen our energy security while also creating good-paying jobs. Estimates show that the clean energy and climate provisions from this law have already created over 170,000 clean energy jobs. It is also delivering billions of dollars to make our communities more resilient and protect them from the disastrous impacts of climate change, including drought, wildfires, and extreme weather.
I also helped pass the Bipartisan Infrastructure Law in 2022. This is the first infrastructure law in U.S. history to acknowledge and address the climate crisis. This law includes significant investments to help reduce greenhouse gas emissions from our transportation network while at the same time increasing our resilience in the face of extreme weather and other climate impacts. Investments in the Bipartisan Infrastructure Law will help boost the manufacturing of green technologies and provide Americans with more affordable, sustainable transportation options.
Together, these two historic laws are expected to reduce greenhouse gas emissions by approximately 1 billion tons in 2030. They’re also driving significant new clean electricity generation, enabling the United States to potentially reach 80 percent clean electricity by 2030. Additionally, the two laws are lowering costs for families across the country. Estimates show that electricity rates will be cut by as much as 9 percent and lower gas prices by as much as 13 percent by 2030—putting tens of billions of dollars back in the pockets of Americans.
As a member of the House Financial Services Committee, I’m also leading efforts to make sure that everyone has the tools they need to evaluate the risks that climate change poses to their investments. Right now, corporations are spending roughly $500,000 a year to identify their climate-related risks. Teachers, firefighters, social workers, and anyone that’s working to earn retirement for themself and their families should have access to this information, too. All investors deserve to know whether the companies they are trusting with their hard-earned savings are preparing for climate change.
I’m continuing to make combating climate change a top priority in Congress. Read more about my work on this issue:
Latest
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July 25, 2024
Rep. Vargas Announces Nearly $20 Million Environmental and Climate Justice Community Change Grant for San Diego
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April 17, 2024
Rep. Vargas Remarks in Support of SEC Climate Disclosure Rule at House Financial Services Committee Hearing
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April 10, 2024
Rep. Vargas Remarks at House Financial Services Committee Hearing on SEC Climate Disclosure Rule
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April 05, 2024
Sustainable Investment Caucus Statement on SEC Climate Disclosure Rule Pause
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April 03, 2024
Rep. Vargas Helps Introduce Legislation to Protect Federal Pensions from Economic Impact of Climate Change
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March 06, 2024
Sustainable Investment Caucus Applauds SEC Climate Rule
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August 07, 2023
Casten, Vargas, Castor Lead 77 House Democrats to Urge SEC to Finalize Strong and Durable Climate Rule