We are responsible for nearly one-fourth of the global annual total. So clearly, we must take the lead in reducing emissions. But the second largest greenhouse gas producer is China. And under current projections, China will overtake us as the most prolific within a couple of decades. The United States has begun to address climate change head-on.
China needs to do the same.
And being well-positioned to abate more greenhouse gas emissions at a lower cost than any other country, China could sell those reductions and earn billions of dollars per year. In short, the potential is there for China to be better off economically by participating in a market-based approach to climate change amelioration. Having wrapped up the climate negotiations in Bonn, we're getting ready for the next round of negotiations on the Biosafety Protocol next month in Montreal. The goal of that agreement is to ensure that biotech agriculture can continue to expand and thrive without causing undue harm to biodiversity and the environment. We also want to ensure that international trade in biotech food products can continue.