China and the United States pushed their collaboration on tackling climate change even further today, announcing a wide ranging agreement that is being called a “game changer.” As part of the deal, China will launch the world’s biggest carbon market in 2017. The country’s cap and trade system will use market forces to reduce emissions from power generation, steel, cement, and other key industrial sectors. China’s announcements complement the recent American Clean Power Plan, which will reduce emissions in the U.S. power sector by 32 per cent by 2030. China also pledged US$3.1 billion in climate finance to help poorer nations transition away from fossil fuels, essentially matching the US’s $3 billion commitment to the Green Climate Fund last year. Chinese President Xi Jinping and US President Barack Obama also outlined their, “common vision for a new global climate agreement to be reached in Paris this December” that “ramps-up ambition over time.” Among other plans, both nations – the world’s two largest economies and polluters – agreed to take serious steps to cut emissions by focusing on cities, transportation, methane and through a continued emphasis on embracing technology. These announcements, combined with Pope Francis’ strong environmental remarks in Washington and at the UN General Assembly add another shot of momentum towards securing a climate agreement in Paris this December that will put the world on a pathway to a 100 per cent renewable future.