Both countries intend to speed up renewable development through 2030 in order to “accelerate the substitution for coal, oil and gas generation,” according to their agreement. 

They therefore anticipate planet-warming emissions from the power sector to peak this decade.

In addition, both countries committed to work together on reducing emissions of methane, nitrous oxide and hydrofluorocarbons — greenhouse gases that are less common but more potent than carbon dioxide. 

The U.S. and China will seek to cut emissions economy-wide and include all greenhouse gases in their climate targets for 2035.

The agreement did not set emissions targets, but did represent a step toward climate collaboration for the two key nations. 

It came ahead of a meeting today between President Biden and Chinese President Xi Jinping — the first meeting between the two leaders in about a year amid tensions on a variety of issues. 

Read more at TheHill.com.

Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.