Investors should monitor whether ongoing competition between the two greatest polluters — China and the U.S. — will be constructive or destructive in their efforts to slow global warming. How it could impact your portfolio:
Investors should monitor whether ongoing competition between the world’s two largest economies and its two greatest polluters — China and the U.S. — will be constructive or destructive in their efforts to slow global warming, as well as the health of portfolios tied to the environmental efforts of these giants.
Awaiting details China, the world’s top emitter of carbon dioxide and other greenhouse gasses that cause global warming, formally submitted its goals to the Glasgow conference this past week. But, said analysts, that report offered no significant new goals for reducing climate-changing emissions, especially over the short run.
China is expected to face pushback from its economic rivals as it ramps up coal production, one of the “dirtiest” contributors to global warming. But the administration has not gotten as much help from Congress toward this effort as it set out to achieve at the beginning of Biden’s first term. It was at Paris six years ago that governments set the voluntary goal to keep the global temperature from rising no more than 2 degrees Celsius and ideally no more than 1.5 degrees due to climate change. According to U.N., the Earth’s temperature has already gone up an estimated 1.1 degrees Celsius since then.
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