World’s two biggest emitters hold key to success at COP28 summit

illuminem summarizes for you the essential news of the day. Read the full piece on Bloomberg Green or enjoy below:

🗞️ Driving the news: In the lead-up to the COP28 summit in Dubai, the United States and China, the world's two largest economies, have engaged in climate diplomacy talks
• A recent meeting in Rancho Mirage, California, between top climate negotiators from both countries concluded with a note of optimism, though no immediate public breakthrough was announced
• The US highlighted finding "common ground on a number of issues," while China reported "positive results"

🔭 The context: The history of climate negotiations has often seen major strides when the US and China align their climate goals and strategies
• Their combined economic and industrial capacities make them central players in international climate policy

🌍 Why it matters for the planet: The potential cooperation between the US and China at COP28 is pivotal as their joint commitment to climate action can significantly influence the outcomes of the summit and the global effort to combat climate change

⏭️ What's next: The outcomes of the US-China talks are expected to influence the agenda and negotiations at the upcoming COP28
• Concrete actions, such as joint initiatives or bilateral agreements, could emerge, setting a precedent for international cooperation on climate change

💬 One quote: “They are the two biggest emitters, the two most powerful economies, the geopolitical rivals. If they can broker an agreement, it makes it a lot easier for the rest of the system to move.” (Alden Meyer, a senior associate with research group E3G)

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