France to raise contribution to climate change finance to 5 bln euros

China's commitment on climate finance, which matches a similar-sized pledge from the United States past year, was viewed as particularly helpful to UN climate talks, given China's influence in the G77 and BRICS negotiating blocs.

"Having the two largest emitters committing to increased action and also providing at least a few clarity on the key issues for Paris really does help pave the path for a strong agreement", David Waskow, director of the World Resources Institute's global climate initiative, said by phone. India is scheduled to submit its "Intended Nationally Determined Contributions" (INDCs), which will talk of the measures the government is taking for mitigating the impact of climate change in the long term, to the United Nations this week.

The White House recognizes the commitment of both countries and acknowledges the support of its people in executing the plans.

A cap and trade scheme will be used to put a price on, and thereby limit, greenhouse gas emissions, Obama administration officials told the New York Times.

China's plan to roll out carbon emissions trading in 2017 had been mentioned in China's INDC, but will now have greater urgency through its inclusion in the joint agreement with the USA, said Hongliang Chai, an analyst with Thomson Reuters Point Carbon.

"China's "green dispatch" system will prioritize power generation from renewable sources, and establish guidelines to accept electricity first from the most efficient and lowest-polluting fossil fuel generators", the statement says.

Xi pledged that his country will strive to lower carbon dioxide emissions per unit of GDP by 40 to 45 percent from the 2005 level by 2020. In March, Senate Majority Leader Mitch McConnell warned nations to "proceed with caution" when negotiating climate agreements with Washington, because America's primary tool for reducing carbon pollution-the Clean Power Plan - could be unraveled by Republican attacks.

Ms Minghella added: 'Not only will this new pledge unlock global co-operation, it will also make a tangible difference to women, men and children in developing countries.

The country will further reduce its HFC emissions and use, building on rules established in July 2015.

The announcement is not just big news for the world's two largest emitters, but for climate action internationally.

But campaigners and charities will want to know more detail about how the money is going to be spent and how it affects other global development programmes, which are paid for out of the 0.7% of national income dedicated to foreign aid.

Britain is to spend almost £6 billion to help developing countries deal with climate change.

"Japan will have difficulty in exporting coal technologies", Mutsuyoshi Nishimura, special advisor on climate change to the Japanese government, said when asked about China's change of stance. The findings are stepping stones for better understanding of climate change. That's the task for leaders gathering in Paris this November and at the moment New Zealand looks set to try to undermine progress.

Second, increasing political commitment to environmental issues is essential.