The State Department announced this week it had struck a deal with its Chinese counterparts pledging to "accelerate the substitution for coal, oil and gas generation" with green energy sources like wind and solar power. The nations, which account for nearly half of global greenhouse gas emissions, also agreed to "deepen policy exchanges" on reducing carbon emissions in various sectors, like power, industry, buildings and transportation, across their economies.
But the agreement — in which the nations further pledged to "sufficiently accelerate renewable energy deployment in their respective economies through 2030" — was criticized over its potential impact on U.S. consumers. Experts also noted that China has rarely followed through on international accords and stands to financially benefit from such an agreement since it controls much of the world's green energy supply chain. Read more and see video here.
