“Ethical Markets welcomes this news about US-China cooperation, as we advocated in my “ESG Stakeholder Capitalism and China’s Common Prosperity?”
~Hazel Henderson. Editor”
UN and EU say the agreement could help pave the way to wider breakthrough, though concerns remain over ‘patchy details’
A ‘cut methane now’ on the Cop26 summit building in Glasgow. A US/China climate agreement has been broadly hailed as a step in the right direction. Photograph: Graeme Eddolls/PA
An unexpected agreement between the US and China to work together on cutting emissions has been broadly welcomed by leaders and climate experts.
The world’s two biggest emitters appeared to put aside their differences at the Cop26 climate summit and on Wednesday unveiled a joint declaration that would see close cooperation on emissions cuts that scientists say are needed in the next 10 years to stay within 1.5C.
The agreement calls for “concrete and pragmatic” regulations in decarbonisation, reducing methane emissions and fighting deforestation, Chinese climate envoy Xie Zhenhua said in Glasgow.
The two countries will revive a working group that will “meet regularly to address the climate crisis and advance the multilateral process, focusing on enhancing concrete actions in this decade,” the joint declaration said. Continue reading