The US and China have reached agreement on limiting greenhouse gas emissions. The bottom lines (and they are of necessity different) is that China will cap emissions by 2030 or earlier and generate 20% of its energy without fossil fuels. The US has agreed to cut emissions by 26 to 28% below 2005 levels by 2025.
The devil is always in the details, but this is an interesting first step towards a Montreal solution to limit climate change which, of necessity, must be asymmetric. Each country takes a step forward, mostly but not exactly, in the same direction. In the US, negotiations with Republicans appear more difficult.
The Whitehouse press release made some interesting points:
3. Today, the Presidents of the United States and China announced their respective post-2020 actions on climate change, recognizing that these actions are part of the longer range effort to transition to low-carbon economies, mindful of the global temperature goal of 2℃David Victor and Charles Kennel enjoyed that one
5. The global scientific community has made clear that human activity is already changing the world’s climate system. Accelerating climate change has caused serious impacts. Higher temperatures and extreme weather events are damaging food production, rising sea levels and more damaging storms are putting our coastal cities increasingly at risk and the impacts of climate change are already harming economies around the world, including those of the United States and China. These developments urgently require enhanced actions to tackle the challenge.Hmm, guess there is a consensus about the science that the policy makers have figured out
6. At the same time, economic evidence makes increasingly clear that smart action on climate change now can drive innovation, strengthen economic growth and bring broad benefits – from sustainable development to increased energy security, improved public health and a better quality of life. Tackling climate change will also strengthen national and international security.and the economics.
There is a fact sheet on the agreement