China is committed to the energy transition needed to avert climate breakdown – but does not want to take the lead alone in the absence of the US, one of the country’s senior advisers has told the Guardian. Wang Yi said China would provide more money to vulnerable countries, but the EU’s climate commissioner has warned Beijing is not doing enough to cut emissions. “I don’t think China would like to play a leadership role alone,” said Wang, the vice-chair of China’s expert panel on climate change. “The most important…
Tag: Climate finance
China and Saudi Arabia among nations receiving climate loans, analysis reveals
China and wealthy petrostates including Saudi Arabia and UAE are among countries receiving large sums of climate finance, according to an analysis. The Guardian and Carbon Brief analysed previously unreported submissions to the UN, along with data from the Organisation for Economic Cooperation and Development (OECD), that show how billions of dollars of public money is being committed to the fight against global heating. The investigation found a broadly functioning system that shifts capital from rich polluters to vulnerable nations, helping them clean their economies and adapt to a hotter…
Gordon Brown says China must pay into climate fund for poor countries
China must pay into a new fund for poor countries stricken by climate-driven disaster on the basis of its high greenhouse gas emissions and large economy, the former UK prime minister Gordon Brown has said. “America and Europe will have to provide most, but China will have to contribute more too,” he told the Guardian. Last week, at the Cop27 UN climate summit, rich governments finally agreed to a fund for poor countries suffering the impact of extreme weather, known as “loss and damage”. But there is no agreement yet…