Our announcement can inject momentum into the global climate negotiations, which resume in less than three weeks in Lima, Peru, and culminate next year in Paris. The commitment of both presidents to take ambitious action in our own countries, and work closely to remove obstacles on the road to Paris, sends an important signal that we must get this agreement done, that we can get it done, and that we will get it done.
This is also a milestone in the United States-China relationship, the outcome of a concerted effort that began last year in Beijing, when State Councilor Yang Jiechi and I started the United States-China Climate Change Working Group. It was an effort inspired not just by our shared concern about the impact of climate change, but by our belief that the world’s largest economies, energy consumers and carbon emitters have a responsibility to lead.
The targets themselves are also important. Ambitious action by our countries together is the foundation to build the low-carbon global economy needed to combat climate change. The United States intends to reduce net greenhouse gas emissions by 26 to 28 percent below 2005 levels by 2025 – a target that is both ambitious and feasible. It roughly doubles the pace of carbon reductions in the period from 2020 to 2025 as compared to the period from 2005 to 2020. It puts us on a path to transform our economy, with emissions reductions on the order of 80 percent by 2050. It is grounded in an extensive analysis of the potential to reduce emissions in all sectors of our economy, with significant added benefits for health, clean air, and energy security.
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