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Researched and written by Doug Koplow (Earth Track) and edited by Lorne Stockman
Key Findings:


The 45Q tax credit has been greatly expanded in scope and cost since it was first enacted in 2008. 
There is very little transparency surrounding the amount of tax credit claimed by companies so far. 
However, what information there is suggests around $1.3 billion was claimed through 2022.
The Inflation Reduction Act’s generous expansion of 45Q provisions could lead to as much as $100 billion in claims through 2031, according to one estimate. 
An audit found significant amounts of fraud in claims made between 2010-2019

As communities face rising debts and rising seas, pressure from people-powered movements has put global financial architecture reform on the multilateral agenda for the first time in decades. This is desperately needed, as our current international monetary, trade, tax, and debt rules are limiting how much funding is available for climate action.

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