Matthew Johnson discusses the environmental and political implications of the Paris Agreement as it is poised to take effect. Ratification of the Paris Agreement by the U.S. and China signifies an increasingly rare moment of visible cooperation between two environmentally impactful countries. What remains to be seen is how leadership gets allocated in terms of economic benefit and global rule setting.

On September 3rd, the United States and China formally joined the Paris Agreement, a historic global pact to curb greenhouse gas pollution and build resilience to the damaging effects of climate change.

The 2015 Paris Climate Summit Agreement witnessed a huge and significant step forward in its legal enforcement, on September 3, 2016, following its ratification by China and the United States. Marianne Ojo discusses specifics of the Agreement, and the inspiration China and the U.S. provide for the remaining countries to sign the Agreement—still needing at least 30 more signatures to legally take effect.

Progress in China’s shale gas exploration has been non-existent, and in the past three years approximately 4.8 million Chinese have died from air pollution from burning coal. Partnerships with large U.S. oil and gas companies, demonstration projects, and the use of auctions, may not be the answer however; the U.S.’s own shale gas revolution showed that a mass of small, innovative, new companies were its catalyst.

China and the U.S. are actively promoting the changes set out in the Paris Climate Agreement signed at the end of April. China’s already shut down enough coal mines to cut CO2 emissions equal to the entirety of Great Britain’s annual emissions, but what else is needed to keep under two degrees Celsius?

Beijing has highlighted its water hegemony over downstream countries by releasing some dammed water for drought-hit nations in the lower Mekong River basin. Brahma Chellaney argues that this unilateralist approach underscores the imperative for institutionalized water cooperation in Asia, based on a balance between rights and obligations.

Roughly $10 trillion per year, or 12% of the global economy, is now in play fighting climate change. Properly invested in zero emission energy, transport and business infrastructure of tomorrow. Key to the success of a future clean energy economy will be liberalization of energy markets, which partially exists in the U.S. operation of nationwide natural gas distribution system. Critical reforms along these lines also are underway in China.

The negotiations were tiresome, the jostling was tough and complicated. To save the common homeland of mankind, to guarantee the sustainable development of all countries, the conclusion of the Paris Agreement gives hope and expectation that we can overcome all sorts of difficulties, and we have the wisdom and courage to do so.

The landmark climate deal negotiated last week in Paris is important first step. However, increased coordination and cooperation between developed and developing countries to enable these much-needed reforms is critical. This includes collective learning, building tools to help strengthen institutional capacity and develop green growth policy, expanding peer learning and knowledge sharing, and engaging private investors and public donors.

As long as booming economic growth is seen as the key to enduring legitimacy and political success, it may be politically impossible to avoid catastrophic global warming. There are no “American” or “Chinese” emissions. There are simply carbon emissions.