China and the US are two powerful economic and political forces but, at the same time, they are the two largest sources of greenhouse gas emissions (CO2). In the face of the G20 Summit (Summit in China), the US President Barack Obama and Chinese President Xi Jinping ratified the Paris Climate Agreement and passed the corresponding documents (ratification instruments) to the UN Secretary-General Ban Ki-Moon.
Given the dynamics of the international politics, this step can be regarded as an important step towards ensuring compliance with the agreement. The Paris Agreement will enter into force when 55 countries that represent 55% of global emissions, have ratified the agreement. However, as of 1 September 2016, only 24 countries, representing around 1% of the global emissions, have ratified the agreement.
In accordance with the conclusions of the Intergovernmental Panel on Climate Change (IPCCC), the global energy sector needs to be decarbonised by 2050 in order to achieve the goals of the Paris Agreement.
Lars Bondo Krogsgaard, the CEO of Nordex Group (an international group of companies with the headquarters in Germany, operating under the brand names Nordex and Acciona Windpower), commented on the actions of Barack Obama and Xi Jinping: “In my opinion, this decision of the US and China is an important step on the way to protect our planet for future generations. Wind power is an unconditional part for decarbonisation of the energy sector. As industrialists, we are ready to support the global transition to clean energy.”
In terms of the results achieved through the Chinese and American cooperation in the sphere of climate change, the sides have agreed to develop their national strategies to reduce greenhouse gas emissions and pledged to promote the transition to sustainable energy both inside these states and around the world.