The Joint Presidential Statement was made on the occasion of President Xi’s State Visit to Washington, D.C.and it includes significant domestic policy announcements and commitments to global climate finance. Statement builds on last November’s historic announcement by President Obama and President Xi of ambitious, respective post-2020 climate targets, describes a common vision for a new global climate agreement to be concluded in Paris this December.
China confirmed that it plans to launch in 2017 a national emission trading system covering power generation, steel, cement, and other key industrial sectors, as well as implement a “green dispatch” system to favor low-carbon sources in the electric grid. The U.S. will implement Clean Power Plan, which will reduce emissions in the U.S. power sector by 32% by 2030. The two countries announced further steps to help accelerate the transition to low-carbon development internationally, including a new climate finance commitment by China of CNY 20 billion ($3.1 billion) to help developing countries combat climate change. Read more at www.whitehouse.gov
