Recently, senior leaders across business, government, and nonprofit sectors gathered with the HBS Institute for Business in Global Society (BiGS) in Washington, D.C., to exchange views on the early successes, failures, and frustrations of a major new slate of U.S. industrial policies. These conversations aimed to generate insights into policy design, implementation, and hurdles.

Hear from Ronnie Chatterji, former White House advisor of the CHIPS and Science Act, and professor of business at @FuquaSchOfBusines as he discusses the CHIPS Act and its impact on industry.

Highlights from our interview with Chatterji:

01:27: How are you seeing businesses respond to the legislation right now?

01:30: We’ve seen massive amounts of private sector investment on the heels of these bills. Business leaders are noting that they are making bets on Americans again. We’re seeing over 150 billion dollars of private investors. The private sector has taken a lot of notice and a lot of investments.

02:11: Are you seeing any impacts that have surprised you right now?

02:17: The geographic footprint of the investments so far.

02:31: What advice do you have for business leaders who are trying to take advantage of this legislation?

02:37: You have to understand the rules of the game. Ensure your government affairs team and the C-suite understand how the rules are being written and how they affect the firm. Secondly, keep communication channels open.

02:58: To solve climate change problems, we need to get up to trillions of dollars in investments from the private sector. That will only happen if we can hear from business leaders on what the frictions are.

03:11: What headlines would you expect to see in a couple of years due to the legislation?

03:17: Leading edge capacity on the chips side in the U.S. for the first time in a long time. Also, a larger share of the infrastructure for our energy transition be made in the United States.

Check out more articles on climate change and industrial policy on the BiGS Knowledge Hub: www.hbs.edu/bigs/climatechange