Washington, D.C. – President Barack Obama and Chinese Prime Minister Xi Jinping announced, on Wednesday, an unprecedented agreement between the world’s leading carbon emitters, promising tighter regulations on waste and emissions, as well as investments in renewable energy.
According to the White House, Mr. Obama promised that the United States will cut carbon emissions down to 26 to 28 percent below 2005 levels by 2025, twice the pace of current plans aimed through 2020. The new goals fall in line with the long term plans to reduce carbon deduction by 80% for the year 2050.
Mr. Jinping pledged that China would reach its peak carbon emissions in the year 2030, with the intention of peaking early, and thereafter keeping its levels at or below that ceiling. The Chinese also agreed to increase the country’s capacity of renewable energy by 800 to 1,000 gigawatts, more than double current levels and increasing non-fossil fuel share of energy production up to 20% of the total.
The White House has stated that the agreement between the world foremost two polluters lays the groundwork for real progress to be made next year at the 2015 Conference of the Parties on Climate Change, the 21st such conference revisiting the United Nations Framework Convention on Climate (U.N. FCCC) Change, which was adopted in 1992.