USCBC Decarbonization Working Paper 1: Exploring Pathways Toward a Shared Green Future

Exploring Pathways Toward a Shared Green Future

USCBC Decarbonization Working Paper 1

Executive Summary 

The private sector has the will and capacity to deliver climate change solutions, an area where President Joe Biden and President Xi Jinping have committed to strengthening bilateral cooperation at both the G20 meetings in Bali and the APEC meetings in San Francisco. USCBC member priorities in China align with those outlined in the US-China Sunnylands Statement, in which both governments identified specific areas to cooperate further on climate. To better understand how to realize this potential, USCBC surveyed and held roundtable discussions with roughly 60 member companies from a range of industries to identify opportunities and obstacles.

This document is the first in a series of USCBC working papers on decarbonization. It focuses on the issue areas of carbon capture, utilization, and storage (CCUS), plastic/waste recycling, methane, and carbon trading. This paper is designed to start a dialogue with both governments about issues areas, policy changes, and industry demonstration projects on which to collaborate to reduce greenhouse gas emissions. The paper is a work in progress and may be refined or expanded over time.

A prevailing theme in discussions with companies was an eagerness to partner with both the US and Chinese governments on decarbonization. There are rich opportunities for sharing best practices and technical expertise on complex policy frameworks, such as carbon trading markets, innovative technologies like CCUS, and the transition to a renewable and circular economy. Efforts to address the challenges of climate change can both contribute to economic development and lay the foundation for a prosperous low-carbon economy in the United States and China.

USCBC member companies seek greater harmony with international standards to ensure fair competition and a level playing field. Companies note China’s climate-related regulations and standards are lagging behind other markets. Lack of regulatory clarity and consistency in China has led to significant transaction costs and lost opportunities for multinational firms.

USCBC member companies urge both governments to take a results-oriented approach to climate change cooperation in pursuit of achieving the objectives laid out in the Paris Agreement. Both governments should take concrete steps to advance private sector engagement on US-China pilot projects in key green technologies, harmonize standardization, and deepen bilateral and international exchanges on decarbonization.

Read the full working paper:

USCBC Decarbonization Working Paper 1: Exploring Pathways Toward a Shared Green Future - EN

USCBC Decarbonization Working Paper 1: Exploring Pathways Toward a Shared Green Future - CN