Chinese Foreign Ministry spokesperson Lin Jian Photo: Chinese Foreign Ministry

China called on developed countries to see squarely their historic responsibilities and provide sufficient, predictable, and sustainable financial support for developing countries to help them realize just transition, a spokesperson from the Chinese Foreign Ministry said on Tuesday.

The comments came in response to a media question during a regular press conference regarding the recent G20 Rio de Janeiro Leaders' Declaration, which urges all parties to commit to a substantial amount of new climate finance. The spokesperson was also asked whether the negotiations could help create momentum for a deal at the United Nations Framework Convention on Climate Change (UNFCCC), or COP29, and if China is optimistic that the world can avoid a Copenhagen-like result.

Foreign Ministry Spokesperson Lin Jian noted that climate change is a common challenge faced by all humanity, and climate finance is crucial to supporting climate actions for emission reduction and adaptation goals. A shortage of funds is one of the challenges faced by developing countries in implementing their nationally determined contributions, said Lin.

On who provides the fund, Lin said that the Paris Agreement has made it clear that developed country Parties shall provide financial resources to assist developing country Parties, and other Parties are encouraged to provide such support voluntarily. 

"We call on developed countries to see squarely their historic responsibilities, provide sufficient, predictable, and sustainable financial support for developing countries to help them realize just transition and provide confidence and safeguards for global climate action going forward," Lin stressed.

In the G20 Rio de Janeiro Leaders' Declaration signed during the G20 Summit, the leaders underscored the need for increased international collaboration and support, including scaling up public and private climate finance and investment for developing countries, and retreated the need for rapidly and substantially scaling up climate finance from billions to trillions from all sources.

Global Times