We are very pleased with the announcement of the agreement on climate between the U.S. and China, which provides real momentum going into the Lima and Paris UNFCCC Conference of Parties Discussion. Please read the following and review the White House fact sheet for a few more details.
Building on strong progress during the first six years of the Administration, President Obama announced on November 12 a new target to cut net greenhouse gas emissions 26-28 percent below 2005 levels by 2025. At the same time, President Xi Jinping of China announced targets to peak CO2 emissions around 2030, with the intention to try to peak early, and to increase the non-fossil fuel share of all energy to around 20 percent by 2030.
Together, the U.S. and China account for over one third of global greenhouse gas emissions. Today’s joint announcement, the culmination of months of bilateral dialogue, highlights the critical role the two countries must play in addressing climate change. The actions they announced are part of the longer range effort to achieve the deep decarbonization of the global economy over time. These actions will also inject momentum into the global climate negotiations on the road to reaching a successful new climate agreement next year in Paris.
The new U.S. goal will double the pace of carbon pollution reduction from 1.2 percent per year on average during the 2005-2020 period to 2.3-2.8 percent per year on average between 2020 and 2025. This ambitious target is grounded in intensive analysis of cost-effective carbon pollution reductions achievable under existing law and will keep the United States on the right trajectory to achieve deep economy-wide reductions on the order of 80 percent by 2050.
The Administration’s steady efforts to reduce emissions will deliver ever-larger carbon pollution reductions, public health improvements and consumer savings over time and provide a firm foundation to meet the new U.S. target.
The United States will submit its 2025 target to the Framework Convention on Climate Change as an “Intended Nationally Determined Contribution” no later than the first quarter of 2015.
The joint announcement marks the first time China has agreed to peak its CO2 emissions. The United States expects that China will succeed in peaking its emissions before 2030 based on its broad economic reform program, plans to address air pollution, and implementation of President Xi’s call for an energy revolution.
China’s target to expand total energy consumption coming from zero-emission sources to around 20 percent by 2030 is notable. It will require China to deploy an additional 800-1,000 gigawatts of nuclear, wind, solar and other zero emission generation capacity by 2030 – more than all the coal-fired power plants that exist in China today and close to total current electricity generation capacity in the United States.
For the entire text, go to the White House Fact Sheet.