[Press release]

JohannesburgChina and the United States announced a new agreement on climate change last night. Commenting on the deal Ferrial Adam, Team leader for 350 Africa and the Arab World said:

“The world’s two largest green-house gas emitters have certainly made a symbolic political statement. Let’s hope that this is more than talk and finally gives real momentum to global climate negotiations.

“It is the least that the US should be doing, but this deal alone will clearly not solve the climate crisis. The proposed emissions targets for both countries are not yet enough and they are not binding for either.

“So the rest of the world, including fossil fuel addicted governments such as South Africa and Nigeria, and those on the threshold like Ghana and Kenya, must continue to set their own ambitious emissions targets and commit to greater renewable energy investment. This is the only way to power a just transition away from coal, oil and gas.

“Today’s announcement also strengthens the case for stopping fossil fuel investments. The US and China reaffirming their commitment to limiting global warming to 2°C should send shockwaves through the financial markets, because the only way to meet that target is by leaving 80% of fossil fuel reserves underground. It’s time to get out of fossil fuels and invest in climate solutions.”