Beijing, 2 September 2016 – Presidents Xi Jinping of China and Barack Obama of the US are expected to issue a joint statement showcasing their commitment to the Paris Agreement at their bilateral meeting on 3 September ahead of the G20.
“These back-to-back meetings must see Paris move from agreement to action. Political ambition must keep up with rising sea levels faced by vulnerable communities around the world.”
“This Saturday, Xi and Obama should seize the opportunity to lead the world’s twenty wealthiest nations by joining and building on the Paris Agreement.”
Pressure on other G20 nations to ratify Paris is also mounting. Last week a group of investors controlling US$13 trillion called on the group of countries bring the Agreement into force. Meanwhile, three of the world’s largest insurers this week called on the G20 leaders to phase out fossil fuel subsidies by 2020.
“Touting the Paris ‘triumph’ while handing out money to the fossil fuel industry is simply not compatible with the Paris Agreement. Governments must keep coal, oil and gas in the ground and urgently focus on a just transition to renewables,” said Li Shuo.
The China-US bilateral meeting will include further discussions on the Paris Agreement in an attempt to pressure G20 members to join the Agreement. Green finance and a plan for the phasing out of fossil fuel subsidies will also be on the G20 agenda.
China and the US are expected to make a leap towards this process by announcing the public review of each other’s current fossil fuel subsidy programs.