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China, US unveil separate big steps to fight climate change – New Orleans, Louisiana

New Orleans, Louisiana 2021-09-22 01:42:00 –

Related video above: President Byden talks about fire and climate change after President Byden investigates Caldor fire damage The world’s two largest economies and the largest carbon pollutants announced separate financial attacks on climate change on Tuesday in China President Xi Jinping said he would no longer fund coal-fired power plants overseas, which surprised the world about climate change for the second year in a row at the UN General Assembly. Hours after US President Joe Biden announced plans to double financial assistance to poor countries to $ 11.4 billion by 2024, they switched to cleaner energy and global warming. It is now possible to deal with the worsening effects of global warming. Boston energy development finance expert Xinyue Ma said that this will allow rich countries to reach a long-promised but unfulfilled goal of $ 100 billion annually in climate change assistance in developing countries. You can get closer to your goal. University Global Development Policy Center. Experts say this could give momentum to enter into major climate negotiations in Glasgow, Scotland, in less than six weeks. The US-China Joint Agreement has begun successful negotiations for the historic 2015 Paris Climate Change Agreement. This time, relations between China and the United States were in dire straits, and the two countries announced separately for hours and thousands of miles apart. “Today was a really good day for the world,” Britain’s Prime Minister Boris Johnson, who is hosting the next climate, told Vice President Kamala Harris. UN Secretary-General Antonio Guterres enthusiastically pushed for greater efforts to curb climate change this week, calling the news welcoming the two announcements, but said “there is still a long way to go.” Depending on when China’s new coal policy comes into force, it could shut down 47 planned power plants in 20 developing countries, which use fuels that release the most heat-containing gases. .. From Germany, according to the European climate think tank E3G. “This is a big deal. China was the only important funder of the remaining foreign coal,” said Joanna Lewis, a China, energy and climate expert at Georgetown University. This is a long-awaited announcement for many. ”From 2013 to 2019, data showed that China had funded 13% of coal-fired power plants built outside China. Conducts the Boston University Center. Japan and South Korea announced earlier this year that they would withdraw from the coal lending business. All three countries signal the global economy by withdrawing from overseas coal lending. This is a sector that is rapidly becoming a left-behind asset. “This is a big step, but it’s not the secret of death for coal,” said E3G policy analyst Bifford Tsang. He said this was because China added as many new coal-fired powers domestically as it could have been canceled abroad last year. Also important is when China stops building new coal-fired power plants in the country and closes old coal-fired power plants. He said it would be part of the promotion of the G20 meeting in Italy next month. “China will now respond not only to bilateral pressure in the United States, but also to international pressure,” said Deborah Serigson, a Chinese political and energy expert at Villanova University. .. Chrisfield, environmental director at Stanford University, said coal power plants have been in operation for more than 50 years, so many countries trying to build their economies (such as China and India) are fossil fuels like they were developed. I have long insisted that it needs to be industrialized in India. Each country has already gone. According to Joe Sweat, a climate finance expert at the World Resources Institute, a “big bargain” was held in Paris in 2015, starting in 2009, with rich countries funding poor countries $ 100 billion annually. I promised. However, according to the Organization for Economic Co-operation and Development, as of 2019, rich countries provided only $ 80 billion annually. So when a rich country like the United States asks a poor country to do more, it’s a very easy retort for other countries, “said Sweat. On Tuesday, he announced that he wanted to double it from 2024 to $ 11.4 billion a year, but it requires a passage from Congress. The European Union spends $ 24.5 billion annually, and the European Commission has recently raised it to over $ 4.7. 1 billion in 7 years. “Europeans are doing more and Americans are behind,” Thwaite said. He calculates that some studies should contribute 40% to 47% of the $ 100 billion fund to make a fair share based on the US economy, population, and carbon pollution. Said that. But Congressional Republicans aren’t convinced. “You shouldn’t choose winners and losers and donate to a fund that provides additional grants to China in the process,” said Republican Rep. Garret Graves, Republican ranking of the House Climate Commission. Professor Michael Oppenheimer of Climate Science and International Affairs at Princeton University said the period of global grand standing was over. “What is important is what is happening in the field.” “Accelerating the global phasing out of coal is the only and most important step to keep the major warming limits of the Paris Agreement within reach. That’s what UN Prime Minister António Guterres said.

Related video above: President Biden talks about fire and climate change after investigating the damage caused by the Caldor fire

The world’s two largest economies and the largest carbon polluters announced separate financial attacks on climate change on Tuesday.

China’s President Xi Jinping said at the UN General Assembly that he would surprise the world’s climate for the second year in a row and would not fund overseas coal-fired power plants. Hours after US President Joe Biden announced plans to double financial assistance to poor countries to $ 11.4 billion by 2024, they switched to cleaner energy and global warming. It is now possible to deal with the worsening effects of global warming. This will allow rich countries to approach the long-promised but unfulfilled goal of $ 100 billion annually in supporting climate change in developing countries.

Xinyue Ma, an energy development finance expert at Boston University’s Center for Global Development Policy, said:

Experts say this could give momentum to enter into major climate negotiations in Glasgow, Scotland, in less than six weeks. The US-China Joint Agreement has begun successful negotiations for the historic 2015 Paris Climate Change Agreement. This time around, the two countries made separate announcements several hours and thousands of miles apart in the face of a crisis of US-China relations.

“Today was a really good day for the world,” British Prime Minister Boris Johnson, who is hosting the next climate negotiations, told Vice President Kamala Harris.

UN Secretary-General Antonio Guterres, who enthusiastically pushed for greater efforts to curb climate change this week, called the news welcoming the two announcements, but “still a long way to go” for the success of the Glasgow conference. There is. “

According to Europe, 47 plans are being made in 20 developing countries that use fuels that release the most heat-containing gas, with about the same amount of coal-fired power as Germany, depending on when China’s new coal policy comes into force. There is a possibility of closing the power plant. Climate think tank E3G.

Joanna Lewis, a Chinese, energy and climate expert at Georgetown University, said: “This is the announcement that many have been waiting for.”

Kevin Gallagher, head of the Boston University Center, showed that between 2013 and 2019, China was funding 13% of coal-fired power plants built outside China. Japan and South Korea announced earlier this year that they would withdraw from the coal finance business.

“It signals the global economy, a sector that is rapidly becoming a stranded asset,” Gallagher said, with all three countries withdrawing from overseas coal lending.

Byford Tsang, an E3G policy analyst, said this is a big step, but not a death secret for coal. He said this was because China added as many new coal-fired powers domestically as it could have been canceled abroad last year.

Tsang said the one-sentence line in Xi’s speech referring to the new policy lacks details such as the effective date and whether it applies to private as well as public funding. I warned.

Also important is when China stops building new coal-fired power plants in the country and closes old coal-fired power plants. He said it would be part of the promotion of the G20 meeting in Italy next month. “Chinese are currently trying to respond to international pressure as well as bilateral pressure in the United States,” said Deborah Serigson, a Chinese political and energy expert at Villanova University. rice field.

“The coal-free energy mix is ​​still decades away,” said Chrisfield, environmental director at Stanford University, because coal-fired power plants have typically been in operation for more than 50 years.

Many countries trying to build their economies (including the top polluted countries in China and India) have long argued that they need to be industrialized with fossil fuels, as developed countries have already done. According to Joe Sweat, a climate finance expert at the World Resources Institute, a “big bargain” was held in Paris in 2015, starting in 2009, with rich countries funding poor countries $ 100 billion annually. I promised.

However, according to the Organization for Economic Co-operation and Development, as of 2019, richer countries provided only $ 80 billion annually.

So when a rich country like the United States asked a poor country to do more, “it gives other countries a very simple counter-argument,” Swaite said.

In April, Biden announced that it would double its annual Obama-era financial aid pledge of $ 2.85 billion to $ 5.7 billion. On Tuesday, he announced he wanted to double it from 2024 to $ 11.4 billion a year, but he needs a passage from Congress.

The European Union spends $ 24.5 billion annually, and the European Commission has recently raised it to more than $ 4.7 billion in seven years. “Europeans are doing more and Americans are behind,” Thwaite said.

He calculates that some studies should contribute 40% to 47% of the $ 100 billion fund to make a fair share based on the US economy, population, and carbon pollution. Said that.

But Congressional Republicans aren’t convinced. “You shouldn’t choose winners and losers and donate to a fund that provides additional grants to China in the process,” said Republican Rep. Garret Graves, Republican ranking of the House Climate Commission.

Professor Michael Oppenheimer of Climate Science and International Affairs at Princeton University said the period of global grand standing was over. “The important thing is what is happening in the field.”

“Accelerating the global phasing out of coal is the only most important step in achieving the major warming limits of the Paris Agreement,” said UN Prime Minister António Guterres.

China, US unveil separate big steps to fight climate change Source link China, US unveil separate big steps to fight climate change

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