For China to be willing to publicly admit that their emissions are a problem and need to be reduced seems to me to be very significant in itself. I note that most of you who are skeptical that they will live up to the agreement are the same people who are skeptical of the science of this issue in the first place - China doesn't appear to share your doubt.
While this is ultimately meaningless, it is the first time that the Chinese have agreed in theory to reduce CO2 emissions. That's a huge step and one I didn't expect to see happen.
It buys the Chinese some time to not deal with it but it lays the groundwork for future (hopefully binding) agreements.
Except that China has been putting things in place to deal with this for some time. Their targets on renewable energy and cap and trade programs are far ahead of the US, whom is not really doing anything.
Not really doing anything? People have screamed every time the US refused to sign a climate treaty over the last 15 years. Those treaties were supposed to save the world! And yet, here we are beating the targets for all those treaties. But are the screamers happy? No, no they're not.
Now Europe, Europe is missing all their targets. Despite all the regulations and billions in costs, they can't meet their obligations.
So what do we do now? We sign a non-binding agreement that means China doesn't have to do a single thing, while the US would have to institute hugely expensive regulations to cut our emissions even more than we've done. Which is at least somewhat of a cynical realism since we know China doesn't honor agreements anyway. Just ask the folks in Hong Kong who are seeing China slowly erode their guaranteed democratic rights.)