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“No less relevant in the context of this agreement, they are also the two largest economies in the world,” Maricle said.

“Between them they have the power to unlock vast financial flows from the public and private sectors that can speed the transition to a low carbon economy.”

Manish Bapna, the CEO and president of the Natural Resources Defense Council, said it was “good news that the U.S. and China agreed to accelerate climate action and ambition in this decisive decade.”

“The pledge to strengthen cooperation on clean energy, methane, and deforestation from the two largest economies and greenhouse gas emitters is a welcome step forward,” Bapna said.

“But if we are to hold global warming to 1.5 degrees Celsius, we urgently need to see commitments to cooperate translate into bolder climate targets and credible delivery.”

Elsewhere, the U.N. Secretary General, António Guterres, said via Twitter that he welcomed the agreement between the U.S. and China.

“Tackling the climate crisis requires international collaboration and solidarity, and this is an important step in the right direction,” Guterres said.

In another tweet, Frans Timmermans, the European Commission’s executive vice-president for the European Green Deal, said it was good news the U.S. and China had “found common ground on climate.”

“This is a challenge which transcends politics,” he said. “Bilateral cooperation between the two biggest global emitters should boost negotiations at #COP26. Now we must find the global deal that keeps 1.5 degrees alive.”