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What a U.S.-China climate deal means for COP28

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The New York Times or enjoy below:

🗞️ Driving the news: The United States and China have reached a significant climate agreement to increase clean energy and reduce fossil fuel emissions
• This pact comes ahead of the COP28 climate talks and is seen as a crucial step by the world's two largest greenhouse gas emitters

🔭 The context: The agreement, rare in the context of current U.S.-China geopolitical tensions, aims to triple global renewable energy capacity by 2030
• Both countries plan to set reduction targets for all greenhouse gases in their upcoming national climate pledges

🌍 Why it matters for the planet: This deal is pivotal as the U.S. and China together account for 38 percent of global greenhouse gases
• China's commitment to set concrete methane reduction targets, a major departure from its previous stance, is a significant development in global climate action

⏭️ What's next: The deal will likely shape the discussions at COP28, with potential implications for global renewable energy and fossil fuel phase-out strategies

💬 One quote: "Methane has been notably absent from China’s previous commitment under the Paris Agreement." (David Waskow, World Resources Institute)

📈 One stat: The U.S. and China account for 38 percent of the world's greenhouse gases, underscoring the significance of their joint climate actions

Click for more news covering the latest on sustainable finance

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