WASHINGTON, September 25, 2015 –World Bank Group President Jim Yong Kim today issued the following statement on the U.S.-China Joint Presidential Statement on Climate Change:
“I welcome the statements by the leaders of the United States and China to significantly step up efforts to combat climate change.
I hope the announcements by the world's two leading powers will send a strong signal to the rest of the world, paving the way for a truly ambitious deal on climate change in Paris later this year.
China's move to put a price on carbon will create the largest carbon market in the world, sending an unmistakable sign to business around the world and to other countries, regions and cities. Carbon pricing is not a panacea but it is the necessary step to fast track low carbon growth and resilient development.
China’s leadership is the kind of strong signal that the political process to Paris needs.”