Chinese President Xi Jinping on Tuesday said China will take the lead by investing 1.5 billion yuan ($233 million) to establish the Kunming Biodiversity Fund to support biodiversity protection in developing countries.

Xi made the remarks while addressing the leaders' summit of the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity via video link in Beijing.

In order to ratchet up China's effort of building an ecological civilization, Xi pledged China's initiative to establish a Kunming Biodiversity Fund and take the lead by investing 1.5 billion yuan to support biodiversity protection in developing countries. China also calls for and welcomes contributions from other parties to the fund.

To achieve its carbon peak and neutrality targets, China will release implementation plans for peaking carbon dioxide emissions in key areas and sectors as well as a series of supporting measures, and will put in place a "1+N" policy framework for carbon peak and carbon neutrality, Xi said. 

Speaking at the summit, Xi said that China will continue to readjust its industrial structure and energy mix, vigorously develop renewable energy, and make faster progress in planning and developing large wind power and photovoltaic bases in sandy areas, rocky areas and deserts. 

The construction of the first phase of projects with an installed capacity of approximately 100 million kilowatts has started in a smooth fashion, said the President.

Xi also stressed the importance of biodiversity, harmonious coexistence between man and nature and other environmental issues. 

China has made remarkable progress in building an ecological civilization. The recent story of the northward travel and return of a group of elephants in Yunnan Province in southwestern China shows the vivid results of our endeavor to protect wild animals, Xi said, noting that China will continue to advance ecological progress.

Photo:VCG

To strengthen biodiversity protection, China is moving faster to establish a protected area system with national parks as the mainstay, he said. 

China has officially designated its first group of national parks that includes the Three-River-Source National Park, the Giant Panda National Park, the Northeast China Tiger and Leopard National Park, the Hainan Tropical Forests National Park, and the Wuyishan National Park. The protected land area is 230,000 square kilometers and it covers nearly 30 percent of the key terrestrial wildlife species found in China. In the meantime, acting by the principle of striking a balance between on-site and translocation conservation, China has started building a system of national botanical gardens in places like Beijing and Guangzhou.

Xi said that the COVID-19 pandemic has cast a shadow over global development and compounded challenges of the UN's 2030 Agenda for Sustainable Development. Faced with the dual tasks of economic recovery and environmental protection, developing countries need help and support. 

We need to strengthen solidarity to overcome difficulties and let people across countries benefit more and in a fairer way from development outcomes and a sound environment, so as to build a homeland of common development for all countries, according to Xi.