Together, the US and China have the potential to attract a cumulative $962 billion in private clean energy investments over the next 10 years. China’s leaders realize the limitations of conventional fossil fuel as new sources of energy for their rapidly-growing economy. Recent policy developments have shown that China intends to seriously pursue new, low-carbon sources of energy in order to meet this growing demand and mitigate impacts on the environment.
The US and China share many of the same goals related to climate and energy, including promoting job creation, economic growth, energy security, and pollution reduction. The two nations have collaborated for over 20 years on these issues, and have agreed to a substantial number of government-private sector cooperative efforts. The U.S.-China climate and energy relationship reflects the two countries’ interdependence and collaboration, even as the countries and their companies also compete in a global marketplace.