Funding's key role in fighting climate change

Support seen as empowering developing countries in South-South cooperation framework. Hou Ligqiang reports

Experts and officials in China and elsewhere have lauded China's voluntary financial support to developing countries within the South-South cooperation framework, highlighting it as a testament to China's role as a responsible world power.

Since 2016 China has provided and mobilized more than 177 billion yuan ($24.5 billion) of financial support to bolster climate initiatives in other developing countries, China's VicePremier Ding Xuexiang said in address to the World Leaders Climate Action Summit during the COP29 climate change conference, the United Nations gathering of nearly 200 countries from November 11 to November 22, in Baku, Azerbaijan.

China's report Actions for South-South Cooperation on Climate Change, issued during an event at the COP29 China Pavilion, said China's financial support has facilitated clean and efficient energy use, strengthened adaptation capacity promoted the coordination of climate change response and environmental protection, and improved lives in developing countries.