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A former White House aide to President Reagan, Eileen Doherty has years of experience in corporate communications strategy and public policy analysis.
G. Philip Hughes draws on a wealth of high-level foreign policy experience in developing and managing message campaigns for international companies.
London-based Rupert Darwall has two decades’ experience in finance and public policy, specialising in the intersection of the two.
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President Obama called the energy agreement with China historic. The announcement is intended to “inject momentum” into the climate negotiations ahead of the December 2015 climate summit in Paris. Reuters described it as “largely symbolic.” True, China’s side of the deal is non-binding, including its aim to start reducing its greenhouse-gas emissions by around 2030. Symbolic it may be, but symbols matter. And the numbers on the Chinese side are truly staggering.
According to the White House briefing, China’s target to derive 20 percent of its energy from zero-carbon-emission sources would require China to build more wind, solar, and nuclear capacity than all its existing coal-fired power stations. At around 800 to 1,000 gigawatts, this would be almost as much as the total generating capacity of the United States. If it were split equally between wind, solar, and nuclear and constructed in the United States, the extra cost of this zero-carbon-generating capacity would be around $2 trillion. Even if costs in China are half those in the U.S., a trillion-dollar price tag in a $9.2 trillion economy is still a huge amount of money.
Read the entire piece here.