News I iCET signed an MOU with Beijing Environmental Exchange Center (BEEC) in LA amid Xi's visit to the US
A memorandum of understanding between the China Beijing Environment Exchange, iCET, the Climate Registry, and the Climate Action Reserve, was signed on September 15 in LA as part of the "Alliance of Peaking Pioneer Cities" (APPC) meeting amid Xi's visit to the US. The MOU is designed to build Beijing's carbon markets capacity and introduce California's zero-emission vehicle credit trading mechanism to China's capital. This initiative aims to equip professionals with the experience and understanding needed to create well-functioning carbon and credit markets, which are critical to encouraging the deployment of clean and renewable energy sources.
China's APPC cities and provinces have established, for the first time, peak years for carbon dioxide emissions that are earlier than the national goal to peak around 2030. Notably, Beijing and Guangzhou have committed to peak their carbon dioxide emissions by the end of or around 2020 – ten years earlier than the national target. In signing the Declaration, the Chinese cities have also stated their intention to regularly report on greenhouse gas emissions, establish climate action plans to reduce emissions, and enhance bilateral partnerships and bilateral cooperation.
(From left to right) Gary Gero (President, Climate Action Reserve), Amy Holm (Director of Programs and Operations, The Climate Registry),
Dewen Mei (President, China Beijing Environmental Exchange), and Dr. Feng An (Executive Director, Innovation Center for
Energy and Transportation) shake hands during the signing of their four-party agreement
at the US-China Climate Leaders Summit in Los Angeles, CA.
Los Angeles City Mayor Eric Garcetti (left) and California Governor Jerry Brown (third from left) look on as the City of Los Angeles,
California and the City of Zhenjiang, Jiangsu Province become the first cities to endorse
the Subnational Global Climate Leadership Memorandum of Understanding – an effort led by California Governor Jerry Brown.
Signatories commit to either reduce greenhouse gas emissions 80 to 95 percent
below 1990 levels by 2050 or achieve a per capita annual emission target of less than 2 metric tons by 2050.