The U.S. and China are narrowing their divide over the knotty issue of climate finance, but further cooperation could depend on the outcome of the November presidential election.
The two countries ended three days of in-depth climate talks Friday, with White House climate adviser John Podesta acknowledging that “some differences” remain on how countries can deliver more money to help poorer nations address rising temperatures.
Setting a new goal for climate finance is a central focus of upcoming climate talks, and the U.S. has been pressing China to become a formal contributor. Beijing has so far resisted, saying it already contributes to global climate efforts in other ways. As the two countries met, Beijing was also hosting a summit with African leaders where Chinese President Xi Jinping pledged nearly $51 billion in new loans and investments that included green energy projects.
Podesta said on Friday that the U.S. and China “were able to narrow” their differences on climate finance. But the trip ended quietly, without any major announcements and with more to do ahead of global climate talks in mid-November, known as COP29.
