China to Cap Carbon Emissions!?
By Michael Schweibinz
Earlier this month, President Obama proposed the biggest action we have seen in years to fight global warming. The EPA is setting the first-ever limits on carbon pollution from existing coal-fired power plants—the single largest source of global warming pollution in America.
The Sustainable, Responsible, Impact (SRI) investment industry, including First Affirmative Financial Network, is widely and loudly supporting this action. But the promising news hasn’t stopped there. Just one day after the President proposed the new EPA regulations, China announced that it would follow in the footsteps of the United States.
“The fact that the two biggest emitters of greenhouse gases made unprecedented announcements on climate within 24 hours of each other sparked optimism among observers hoping to see the decades-old deadlock broken,” according to Reuters.
China’s announcement is encouraging for both the country and the global environment. The chairman of China’s Advisory Committee on Climate Change said an absolute cap on carbon emissions will be introduced later this decade (2016).
The United States and China account for roughly 42% of global emissions, according to a ClimateProgress article. These back-to-back domestic efforts “signal a much-needed boost of momentum at the upcoming UN climate talks in an effort to establish a post-Kyoto global commitment.”
Click here to read more about how the “Chinese announcement marks potentially the most important turning point in the global scene on climate change for a decade."
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Posted: June 23, 2014