‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

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‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

Shortly after taking office, former US President Donald Trump pulled out of the non-binding Paris Agreement on climate change, claiming it would hurt the US economy. He also regularly lambasted renewable energy initiatives on similar grounds.

At the Leaders Summit on Climate hosted by US President Joe Biden on Thursday, the heads of some of the world’s leading industrial polluters vowed steep cuts to their carbon emissions in the coming years, while developing nations came together to call on developed nations to help support their green energy transitions.

The Earth’s average surface temperature has already increased by 1.1 degrees Celsius since the late 19th century, when heavy industrialization began on an increasing scale, and the seven most recent years have successively been the warmest on record. The worst estimates project an increase by as much as 5.5 degrees Celsius over the next 100 years, and at both poles, ice sheets are melting at a shocking rate, threatening greater sea level rise. The Arctic Ocean’s summer sea ice is expected to disappear as early as 2035, endangering a major factor in limiting global warming.

Ahead of the summit, many of the leading industrial powers, including China, the US and members of the European Union, separately laid out their own stricter climate change-averting measures, including setting deadlines for transitioning to carbon-neutral economies. In a rare moment of unity, Washington and Beijing even issued a joint statement expressing their commitment to “tackle the climate crisis … with the seriousness and urgency that it demands.” The EU also laid the groundwork for its own climate law.

United States of America

Much of the Thursday summit, which was held on both the Earth Day environmentalist holiday and the fourth anniversary of the signing of the Paris Climate Agreement, was thus a reiteration of those goals with some further elaboration on how they will be achieved or a commitment to provide such information.

US President Joe Biden, who called the summit, also had to demonstrate his administration’s commitment to fighting climate change after his predecessor, Donald Trump, pointedly dismissed the scientific consensus and undertook major efforts to boost the US’ fossil fuel extraction.

‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

U.S. President Joe Biden participates in a virtual Climate Summit with world leaders in the East Room at the White House in Washington, U.S., April 22, 2021.

He also hailed the “extraordinary engine of job creation” in the conversion to renewable energy and responses to climate change, including a near-total overhaul of energy infrastructure that would create millions of jobs.

Biden recommitted to the goal of a carbon-neutral economy no later than 2050 and cutting US carbon emissions by 52% by 2030.

People’s Republic of China

Chinese President Xi Jinping, who only on Wednesday agreed to attend the summit, highlighted the importance of multilateralism, but also noted that developing countries face additional challenges that will require the help and understanding of richer nations, which he called “the principle of common but differentiated responsibilities.”

“Developed countries need to increase climate ambition and action. At the same time, they need to make concrete efforts to help developing countries strengthen the capacity and resilience against climate change, support them in financing, technology, and capacity building, and refrain from creating green trade barriers, so as to help developing countries accelerate the transition to green and low-carbon development.”

He further pledged to “strictly control” China’s coal-fired power plants and continue reducing the increase of coal use from the nation’s recently completed 13th five-year plan, with the goal of phasing it down in the 15th five year plan, expected to begin in 2026. He noted that while the nationwide goal was for carbon emissions to peak in 2030, areas that are judged to be capable of peaking sooner than then will be encouraged to do so.

‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

At the invitation of U.S. President Joe Biden, Chinese President Xi Jinping attends the Leaders Summit on Climate via video link and delivers an important speech titled “For Man and Nature: Building a Community of Life Together” in Beijing, capital of China, April 22, 2021.

China’s target for carbon neutrality remains a decade after the US and EU, in 2060, which Xi defended by saying that overall, China would still be accomplishing the feat of industrializing and converting to a green economy in a much shorter time than many other developed countries.

Xi’s attitude was echoed by other nations present, including Jamaican Prime Minister Andrew Holness and British Prime Minister Boris Johnson. “It’s going to mean the richest nations coming together and exceeding the $100 billion commitment they already made in 2009” to support developing nations’ green energy transitions, Johnson said.

India

Indian Prime Minister Narendra Modi also noted that “India’s per capita carbon footprint is 60% lower than the global average.”

‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

Indian Prime Minister Narendra Modi speaks at the Leaders Summit on Climate on April 22, 2021

Modi said his country’s “bold” carbon reduction goals demonstrated its commitment to sustainable development, including being one of the few nations whose Nationally Determined Contributions under the 2015 Paris agreement are compatible with the 2-degree Celsius goal. 

He also announced India and the US would be jointly opening a “India-US climate and clean energy Agenda 2030 partnership” to provide financing and investment for developing nations, “demonstrate clean technologies, and enable green collaborations.”

Other Nations

Other nations laid out similar goals. German Chancellor Angela Merkel said her country would cease burning coal to generate electricity by 2038, and she and French President Emmanuel Macron both pledged to fully implement the European climate law recently agreed upon, which commits to cutting net greenhouse gas emissions by 55% by 2030, as compared to 1990 levels.

Japanese Prime Minister Yoshihide Suga also pledged to reduce his country’s emissions by 46%, and South Korean President Moon Jae In said Seoul would stop publicly financing coal-fired power plants and promised he would deliver a more precise emissions reduction target by the end of the year. In December, Seoul announced a 24.4% reduction target by 2030, compared to 2017 levels.

Sourse: sputniknews.com

‘Cost of Inaction Keeps Rising’: Industrial Nations Pledge Steep Carbon Cuts at Climate Summit

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