At the recently concluded COP29 United Nations Climate Change Conference, developed nations agreed to provide at least $300 billion in financial support to help developing countries combat climate change. However, this figure falls significantly short of last year’s commitment and the estimated $1 trillion needed annually for the global energy transition.
China’s special envoy for climate change, Liu Zhenmin, emphasized the importance of developed countries fulfilling their promises. “Developed nations must lead by example and honor their commitments to provide adequate financial support,” Liu said in an interview with China Media Group.
The gap between promised and required funding highlights the challenges faced by developing nations in addressing climate change. Many of these countries are on the front lines of climate impacts but lack the resources to implement necessary changes.
China has been actively urging developed countries to step up their efforts and assist in bridging this financial gap. Liu stressed that without sufficient support, the global fight against climate change could be hindered.
As the climate crisis continues to intensify, the call for action becomes more urgent. Developing nations are looking to the global community for the support needed to adapt and mitigate the effects of climate change.
Reference(s):
Envoy: China urging developed countries to fulfill climate commitments
cgtn.com
