Spotlight Activity: China Needs to Secure the Funds It Has Pledged to Help Other Countries
China, as one of the leading countries in the globe, is an international climate donor. From 2005 to 2015, climate finance given to developing countries from China has risen from $30 million to $ 72 million. Most of the fund goes to the FAO to promote climate-smart agriculture. In the September of 2015, Chinese president Jinping Xi announced a $3.1 billion fund dedicated to climate assistance to developing countries prior to Paris climate summit. This fund is given separately from the Green Climate Fund for South-South Corporation and climate activities.
In addition to the generous climate fund towards Global South, in the Paris summit, China has provided developing countries with technical support in the form of demonstration projects and training. This involves funding ten low-carbon development demonstration projects, one hundred climate mitigation projects and a climate training program for 1,000 representatives from developing countries.
The main issue believed for this phenomenon is the source of the 3.1 billion funds. Chai Qimin, one of the experts from National Center for Climate Change and Strategy and International Cooperation (NCSC), reports that the $3.1 billion fund is still in the preparatory stage. The Ministry of Finance of China alone cannot provide the full fund. It is said that state-owned enterprises and local government would co-finance the fund but the details are still being worked out. The fund thus, will take time to formulate.
Status: Right Direction
China has proposed a large amount of climate change funding for developing countries, as well as technical support to help these countries address climate change issues. The only draw-back for this policy is the need to fully secure the needed funds from government and private sources.
You can spread the following message to the contact below to support climate finance!
Thank you so much for coming up with excellent ideas on climate-related issues and strategies! It is really important to see that China is paying attention towards climate-related issues globally. The promotion on South-south cooperation and the support being given to combat climate change in African countries are something we can congratulate you for doing. This shows the global leadership of China. We urge you to secure the funds proposed by China to support climate change efforts in developing countries as soon as possible.
Director, International Cooperation Department, National Center for Climate Change Strategy, NDRC, China