Although it took most proponents by surprise, the deal was in the bag before President Barack Obama and Chinese President Xi Jinping arrived at the California desert retreat where they announced it over the weekend. And for China, it came only after a change in financial incentives made it more lucrative to get on board than to continue holding out.
The thermometer was hitting 103 degrees Fahrenheit (39 degrees Celsius) on a lush estate outside Palm Springs on Saturday when the White House said that Obama and Xi, the leaders of the world's two largest economies, had struck a deal showing China was getting serious about the warming of the planet.
The idea is for the US and China to work together to use a decades-old ozone-protection treaty called the Montreal Protocol to phase out hydrofluorocarbons coolants that flow through refrigerators and air conditioners.
Hydrofluorocarbons or HFCs don't deplete the ozone layer, but they're potent greenhouse gases, far more powerful at trapping heat than carbon dioxide.
Offering grand predictions, the White House and environmental groups said a global phasedown of HFCs could, by 2050, eliminate about two years' worth of greenhouse gas emissions compared with current levels.
The industry that relies on the coolant is on board, too. Francis Dietz of the Air Conditioning, Heating and Refrigeration Institute said businesses want long-term predictability even if it means short-term costs to perfect replacements. Even DuPont Co., a major chemical manufacturer that makes HFCs, supports phasing them out and has been developing alternative products.
"It's a model for broader climate change initiatives," said Sen. Ben Cardin, a Maryland Democrat who urged Obama before the summit to bring it up with the Chinese.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
