As the largest developing country, China has overcome its own economic and social difficulties to resolutely follow a path of green and low-carbon development, implement the national strategy of actively addressing climate change, scale up its climate actions, and strengthen goals of Nationally Determined Contributions. In particular, the US only paid less than 20 percent of its due share while Australia and Canada paid less than half.Ĭhina sets store by efforts to address climate change. The effective amount they actually provided is much lower than the official data. Some countries even try to list green investment of the private sector and conventional infrastructure projects unrelated to climate change as official climate finance. There are also problems like overreporting with inflated numbers or makeweight. According to a recent report released by a well-known international think tank, developed countries' annual funding fell short of the target. However, for more than a decade, developed countries have never truly delivered on their commitment. The Paris Agreement stipulated that developed countries should continue to take the lead in mobilizing climate finance for developing countries.

At the Copenhagen and Cancun conferences, developed countries pledged to jointly mobilize $100 billion per year by 2020. It is developing countries' major concern that developed countries honor their funding commitment. It recalled and reaffirmed the commitment made by developed countries to the goal of mobilizing jointly $100 billion per year by 2020 and annually through 2025 to address the needs of developing countries and stressed the importance of meeting that goal fully as soon as possible.įunding is key to addressing climate change. The 16th G20 Leaders' Summit adopted the G20 Rome Leaders' Declaration. It is not only their moral duty but also a binding international obligation under the UNFCCC and the Paris Agreement to provide funding and help developing countries deal with climate change. Wang Wenbin: Developed countries shoulder major responsibilities for climate change and historical emissions. CCTV: COP26 President Alok Sharma released the Climate Finance Delivery Plan, reiterating the $100 billion annual climate finance commitment developed countries made to developing countries, a target that was never realized throughout the past decade or so.

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