In a joint statement today, the two governments agreed to continue strengthening their policy dialogue and practical cooperation across the deployment of high-efficiency coal technologies, plus a major initiative to advance CCUS demonstration and development.

“The seriousness of the challenge calls upon the two sides to work constructively together for the common good,” the Joint Announcement on Climate Change said.

“President Barack Obama and President Xi Jinping reaffirmed the importance of strengthening bilateral cooperation on climate change and will work together, and with other countries, to adopt a protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all Parties at the United Nations Climate Conference in Paris in 2015.

“The two sides intend to continue strengthening their policy dialogue and practical cooperation, including cooperation on advanced coal technologies, nuclear energy, shale gas and renewable energy, which will help optimize the energy mix and reduce emissions, including from coal, in both countries.

“To further support achieving their ambitious climate goals, today the two sides announced additional measures to strengthen and expand their cooperation, using the existing vehicles, in particular the US-China Climate Change Working Group, the US-China Clean Energy Research Centre and the US-China Strategic and Economic Dialogue.”

These include expanding joint clean energy R&D, with a renewed commitment to the US-China Clean Energy Research Centre, including continued funding for three existing tracks on improving energy efficiency, clean vehicles and advanced coal technology and launching a new track on the “energy-water nexus”

They also committed to additional pilot programs, feasibility studies and other collaborative projects across building and boiler efficiency, solar energy and smarter grids.

The US and China will also undertake a major CCS [carbon capture and storage] project in China that “supports a long term, detailed assessment” of full-scale sequestration in a “suitable, secure underground geologic reservoir”

Peabody said such a demonstration could represent an important successor project to GreenGen, a signature CCUS project near Tianjin that would sequester carbon dioxide for enhanced oil recovery.

Peabody is the only non-Chinese partner in GreenGen.

Upon returning from the APEC Summit, Peabody chairman and CEO Gregory Boyce hailed the US, China and other APEC ministers “clearly accept the vital role coal plays in providing essential energy around the world”

Meanwhile, global leaders have expressed growing support for today's advanced coal technologies and next-generation CCS demonstration – which the White House acknowledges is still in the demonstration phase.

Boyce called on the US Administration to withdraw its proposals to regulate carbon dioxide from existing and new coal plants, initiatives that he said were attracting increasing opposition and would needlessly drive up electricity costs.

“Instead, the proposals should be replaced with a technology approach in line with what was just agreed to with China to enable increased economic growth and reductions in emissions,” he said.

Also today, a joint APEC Ministerial Statement reaffirmed the importance of the clean and efficient use of coal and outlined a focus on advancing major CCUS demonstrations: "Recognising that fossil fuel will continue to play a significant role in the energy mix of this region, in the medium to long term, we therefore reaffirm the importance of the clean and efficient use of fossil fuel."

These announcements are consistent with policy recommendations Boyce made during a wide-ranging discussion with heads of state and CEOs at the 2014 APEC CEO Summit this week, and from Peabody president and chief operating officer Glenn Kellow during a keynote address at the Brisbane Global Cafe in conjunction with G20.

Supercritical technologies are in broad use with more than 600 gigawatts in operation or under construction. These highly efficient, commercial technologies available today are essential to accelerating the global transition to low-carbon, high-efficiency energy systems, Pea