Chinese wisdom in carbon finance shared for closer South-South cooperation

China Economic Net

Beijing: China experience and resource in climate change finance and investment were shared with 21 officials and professionals from 13 countries including Pakistan, Indonesia, Brazil, Laos, Cambodia and Honduras at the Belt and Road Capacity-building Seminar on Financing Mechanisms and Carbon Finance.

The seminar hosted by the Department of Climate Change of the Chinese Ministry of Ecology and Environment was just concluded in Guangzhou, China Economic Net (CEN) reported on Saturday.

“In accordance with the United Nations Framework Convention on Climate Change and Paris Agreement, developed countries should provide financial, technical and other support to developing countries to help them address climate change.

However, developed countries have not delivered on their commitments of providing $100 billion annually in climate finance for developing countries.

Against this background, holding a seminar themed by climate finance is of great significance, representing the concrete action by China for South-South cooperation in tackling climate change,” said Chen Zhihua, Deputy Director, National Center for Climate Change Strategy and International Cooperation.

The seminar featured lectures and field teaching on climate change, artificial intelligence, energy transition and carbon neutrality, low-altitude economy and smart transportation, carbon market development, green finance and carbon finance, etc.

According to Chen Zhihua, up to now, China has signed 53 memorandums of understanding on South-South cooperation on climate change with 42 developing countries to jointly build low-carbon demonstration zones and establish climate change mitigation and adaptation projects.

2,600 officials and professionals related to climate change from more than 120 countries have participated in training programs hosted by China.