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China urges Developed Countries to Contribute to ‘Loss and Damage’ Fund to Combat Climate Damage

China welcomes COP27 agendas and initiatives.

  • China is firm for achieving carbon neutralization.
  • China welcomes COP27 agendas and initiatives.

Beijing: China’s Special Envoy for Climate Change, Xie Zhenhua, has said “Developed countries are obligated to contribute to the Paris Agreement’s “loss and damage” fund once established to help developing countries combat climate change.

#COP27 Agendas and Initiatives
#COP27 Agendas and Initiatives

Xie Zhenhua made these remarks while addressing the Climate Implementation Summit (SCIS) of the UNFCCC COP27 climate conference that concluded in Sharm El Sheikh.

The term “loss and damage” in UN climate negotiations refers to expenses already incurred due to climate change impacts, such as rising sea levels or extreme heat waves.

The United Nations climate conference in Egypt on Saturday adopted a “loss and damage” fund to help countries cope with the cost of climate damage.

Developing countries can contribute to the fund voluntarily, said Xie Zhenhua, China’s special envoy for climate change, at a conference while attending the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Egypt’s Red Sea resort of Sharm el-Sheikh.

Regarding the issue of loss and damage funding, Xie, also the special representative for Chinese President Xi Jinping, said that China welcomes including the topic in COP27 agendas for the first time in response to the demand of developing countries, describing it as “big progress.”

#China welcomes #COP27 agendas and initiatives 3
#China welcomes #COP27 agendas and initiatives 3

The Chinese envoy noted that China has long supported other developing countries in their fight against climate change through South-South cooperation and the Belt and Road Initiative.

China has assisted developing countries in establishing early warning systems, constructing low-carbon demonstration zones, and training officials and technical personnel to improve their capacity to deal with climate change and develop renewable energy, Xie said.

Noting that the recipients of the loss and damage fund should be developing countries, Xie said that due to the size of the fund, it should be distributed first to the most vulnerable countries and those in dire need.

The Chinese envoy called on all parties to follow the principles of the UNFCCC and the Paris Agreement, including the principles of equity, common but differentiated responsibilities and respective capabilities.

Xie urged developed countries to take the lead in substantially reducing their emissions and providing developing countries with financial and technical support to improve their capabilities to combat climate change.

“All countries should work together to advance the process,” Xie stressed.

Xie is a special representative for Chinese President Xi Jinping, for the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Egypt’s coastal city of Sharm El-Sheikh.

Highlighting the China’s persistent efforts and pragmatic actions in tackling climate change Xie said “China’s firm determination and position to implement the goals of reaching carbon peak and achieving carbon neutralization, and to actively participate in global climate governance will never change,”.

After days of intense negotiations that stretched into early Sunday morning in Sharm el-Sheikh, countries at the latest UN Climate Change Conference, COP27, reached agreement on an outcome that established a funding mechanism to compensate vulnerable nations for ‘loss and damage’ from climate-induced disasters.

At COP27 in Egypt, Pakistan-led negotiators also adopted accord to set up ‘loss and damage’ fund.

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