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What to expect from the UN Climate Change Conference

In an interview with Yahoo Finance's Brian Cheung, Sergey Paltsev of the MIT Joint Program on Science and Policy of Global Change previews the upcoming United Nations Climate Change Conference.

Video transcript

BRIAN CHEUNG: I want to start off this conversation with the big UN climate change conference in Glasgow kicking off this weekend. You know, it feels like this is a big one, this being the Biden administration's really first chance to show the United States' position on climate with the administrations changing. And Sergey, you'll be there at the event. So I'm wondering what you're expecting out of that meeting that starts this weekend.

SERGEY PALTSEV: Indeed, that's an extremely important conference. And indeed, the expectations are high. And my hope that the United States is going to be back on the table. And it's going to show its leadership that they are back in Paris, they are committed to these targets. And hopefully, they will have the solid plans to show how they are going to achieve those announced targets of reduction, 50% to 52%, in 2030.

And as you might be aware, well, currently, the specificity is lacking, but it will be interesting to see what the current administration is going to come up with in order to justify what they are going to do to reach this target of the emission reductions. It's not only about the US leadership. Europe already is showing leadership if they are fit for 55% reduction and to the climate neutrality goals by mid-century. But also China, India, other places are extremely important for the success of this conference. So I'm really looking forward to that.

BRIAN CHEUNG: Now, Sergey, as you mentioned, it's not just the United States that's the focus here. But what is interesting is that the heads of states of Russia and China, Vladimir Putin and Xi Jinping, won't be there at the conference this weekend. How significant are Russia and China to these discussions, especially as that transition appears to be the majority of the case for 197 or so countries that will be attending? Not having those two nations there is kind of a big statement, is it not?

SERGEY PALTSEV: Yes, it is, indeed, especially China, because China is the largest emitter. And so the whole world is looking at how serious is China and especially looking at the current energy crisis in China. Well, I wouldn't call it a crisis. I shouldn't call it crisis, but a lot of challenges with energy access in China. It will be very important to see how they are going to go forward, how they are going to stay committed to their declared target.

As you may be aware, they have declared by 2060, it's going to be carbon neutral China. So, in other words, all greenhouse gases are going to be eliminated or compensated, so net zero target. And extremely important for the rest of the world to make sure that China is in because, well, that's such a big player. Russia is extremely important as well. And the current situation with energy in Europe also suggests that it's extremely important to have Russia on board in these negotiations and making sure that they are part of the solution.