Latest news with #Paris Climate Agreement
BreakingNews.ie
5 days ago
- Business
- BreakingNews.ie
Europe and China agree to take action on climate change during tense summit
China and the EU have issued a joint call to action on climate change during a tense bilateral summit in Beijing riven with major disagreements over trade and the war in Ukraine. The two economic giants issued a joint statement urging more emissions cuts and greater use of green technology and affirming their support for the Paris Climate Agreement, as well as calling for strong action at the upcoming Cop30 climate summit in Brazil. Advertisement 'In the fluid and turbulent international situation today, it is crucial that all countries, notably the major economies, maintain policy continuity and stability and step up efforts to address climate change,' the joint statement said. The climate agreement was a silver lining on a stormy day when European leaders demanded a more balanced relationship with Beijing in talks with President Xi Jinping. They highlighted trade in their opening remarks, calling for concrete progress to address Europe's yawning trade deficit with China. 'As our co-operation has deepened, so have the imbalances,' European Commission president Ursula von der Leyen said. 'We have reached an inflection point. Rebalancing our bilateral relation is essential. Because to be sustainable, relations need to be mutually beneficial.' Advertisement Expectations had been low before the talks, initially supposed to last two days but scaled back to one. They come amid financial uncertainty around the world, wars in the Middle East and Ukraine, and the threat of US tariffs. Neither the EU nor China is likely to budge on key issues. European Council president Antonio Costa called on China to use its influence over Russia to bring an end to the war in Ukraine — a long-running plea from European leaders which is likely to fall again on deaf ears. Mr Xi called for deeper co-operation between China and Europe to provide stability in an increasingly complex world. Both sides should set aside differences and seek common ground, he said, a phrase he often uses in relationships like the one with the EU. Beijing is willing to strengthen co-ordination on climate and make greater contributions to addressing climate change, he said, but he pushed back against EU restrictions on Chinese exports. Advertisement 'We hope the EU will keep its trade and investment markets open, refrain from using restrictive economic and trade tools and provide a good business environment for Chinese companies to invest and develop in Europe,' he said, according to state broadcaster CCTV. Besides trade and the Ukraine war, Ms von der Leyen and Mr Costa were expected to raise concerns about Chinese cyberattacks and espionage, its restrictions on the export of rare earth minerals and its human rights record in Tibet, Hong Kong and Xinjiang. The EU, meanwhile, has concerns about a looming trade battle with the US. Beijing's stance has hardened on the EU, despite a few olive branches, like the suspension of sanctions on European legislators who criticised Beijing's human rights record in Xinjiang province, where it is accused of a widespread campaign of repression against the Uyghurs. Advertisement Like the US, the 27-nation EU bloc runs a massive trade deficit with China — around 300 billion euros (£260 billion) last year. It relies heavily on China for critical minerals and the magnets made from them for cars and appliances. The EU has imposed tariffs on Chinese electric vehicles to support its car makers by balancing out Beijing's heavy subsidies. China would like those tariffs revoked. The rapid growth in China's market share in Europe has sparked concern that Chinese cars will eventually threaten the EU's ability to produce its own green technology to combat climate change. Business groups and unions also fear that the jobs of 2.5 million car industry workers could be put in jeopardy, as well those of 10.3 million more people whose employment depends indirectly on EV production. Advertisement
Yahoo
5 days ago
- Business
- Yahoo
Europe and China agree to take action on climate change during tense summit
China and the EU have issued a joint call to action on climate change during a tense bilateral summit in Beijing riven with major disagreements over trade and the war in Ukraine. The two economic giants issued a joint statement urging more emissions cuts and greater use of green technology and affirming their support for the Paris Climate Agreement, as well as calling for strong action at the upcoming Cop30 climate summit in Brazil. 'In the fluid and turbulent international situation today, it is crucial that all countries, notably the major economies, maintain policy continuity and stability and step up efforts to address climate change,' the joint statement said. The climate agreement was a silver lining on a stormy day when European leaders demanded a more balanced relationship with Beijing in talks with President Xi Jinping. They highlighted trade in their opening remarks, calling for concrete progress to address Europe's yawning trade deficit with China. 'As our co-operation has deepened, so have the imbalances,' European Commission president Ursula von der Leyen said. 'We have reached an inflection point. Rebalancing our bilateral relation is essential. Because to be sustainable, relations need to be mutually beneficial.' Expectations had been low before the talks, initially supposed to last two days but scaled back to one. They come amid financial uncertainty around the world, wars in the Middle East and Ukraine, and the threat of US tariffs. Neither the EU nor China is likely to budge on key issues. European Council president Antonio Costa called on China to use its influence over Russia to bring an end to the war in Ukraine — a long-running plea from European leaders which is likely to fall again on deaf ears. Mr Xi called for deeper co-operation between China and Europe to provide stability in an increasingly complex world. Both sides should set aside differences and seek common ground, he said, a phrase he often uses in relationships like the one with the EU. Beijing is willing to strengthen co-ordination on climate and make greater contributions to addressing climate change, he said, but he pushed back against EU restrictions on Chinese exports. 'We hope the EU will keep its trade and investment markets open, refrain from using restrictive economic and trade tools and provide a good business environment for Chinese companies to invest and develop in Europe,' he said, according to state broadcaster CCTV. Besides trade and the Ukraine war, Ms von der Leyen and Mr Costa were expected to raise concerns about Chinese cyberattacks and espionage, its restrictions on the export of rare earth minerals and its human rights record in Tibet, Hong Kong and Xinjiang. The EU, meanwhile, has concerns about a looming trade battle with the US. Beijing's stance has hardened on the EU, despite a few olive branches, like the suspension of sanctions on European legislators who criticised Beijing's human rights record in Xinjiang province, where it is accused of a widespread campaign of repression against the Uyghurs. Like the US, the 27-nation EU bloc runs a massive trade deficit with China — around 300 billion euros (£260 billion) last year. It relies heavily on China for critical minerals and the magnets made from them for cars and appliances. The EU has imposed tariffs on Chinese electric vehicles to support its car makers by balancing out Beijing's heavy subsidies. China would like those tariffs revoked. The rapid growth in China's market share in Europe has sparked concern that Chinese cars will eventually threaten the EU's ability to produce its own green technology to combat climate change. Business groups and unions also fear that the jobs of 2.5 million car industry workers could be put in jeopardy, as well those of 10.3 million more people whose employment depends indirectly on EV production.
