China is willing to allow poorer developing nations take priority in receiving rich nations' funding to combat climate change, the nation's assistant minister of finance said here Wednesday.
China is willing to allow poorer developing nations take priority in
receiving rich nations' funding to combat climate change, the nation's
assistant minister of finance said here Wednesday.
However,
China
will
stick to its stance of demanding rich nations provide 0.5-1% of their annual
gross domestic product as funding to help developing nations for the period to
2020 and beyond, Zhu Guangyao told Dow Jones Newswires in an interview. He
didn't provide information on whether
Beijing
would
insist on some of the funding going to
China
.
China's central government has allocated an annual environmental protection and
energy conservation budget of CNY100 billion over the past two years, and will
likely invest more in the coming years to achieve its announced target of
cutting carbon emissions per unit of GDP by 40%-45% from 2005 levels by 2020,
Zhu said.
He also hopes that government spending would be able to stimulate more
investment from the private sector which could help
China
meet
its carbon intensity goal.
China
's
voluntary target will not be up for international monitoring, Zhu added,
although
China
is in
the process of building a reliable system to report, monitor and verify carbon
emissions.
Zhu reiterated
China
's
strong opposition to efforts by some nations to impose carbon tariffs.
"Some nations raised the carbon tariff issue in the (
Copenhagen
)
negotiations, and we are strongly against it," he said. Such tariffs are a
form of trade protectionism which would ultimately hurt the nations that impose
them, he said.
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