WHY THE U.S.-CHINA EMISSIONS DEAL IS BIG

Why the U.S.-China Emissions Pact Could Be a Climate Change Breakthrough

Bruce Einhorn, November 12, 2014 (Bloomberg BusinessWeek)

“…[U.S. President Barack Obama and Chinese President Xi Jinping] announced the world’s two largest economies had reached an agreement on greenhouse-gas emissions, with the U.S. committing to a new, more aggressive target and China promising to begin reducing its carbon emissions. That’s significant because China had been unwilling to make any such promises, arguing that developed countries like the U.S. needed to take the lead…Some climate-change experts agree that something really significant has just happened…[China] has been devoting considerable resources to developing wind and solar power and is trying to reduce its reliance on the most polluting types of coal. But [it is] for the first time committing to reducing output of carbon dioxide…[O]ther countries that had been reluctant to make any pledges will no longer be able to use Chinese inaction as a convenient excuse…The fact that Xi made the announcement together with Obama is an important sign the two countries are trying to move beyond their disputes over issues…[And] Obama’s pledge to cut greenhouse gas emissions at 26 to 28 percent below their levels in 2000 is an improvement over current policy…” click here for more

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