Emboldened China Plays $100 Billion Trump Card

China offered new details on its commitment to rein in greenhouse gases and called on rich nations to speed up delivery of the $100 billion in annual climate-related aid they’ve promised by 2020. Su Wei, China’s lead climate negotiator, coupled his comments on China’s commitment with a call to accelerate funding for climate aid, shifting the pressure to industrialized nations, led by the U.S. and European Union, to do their part toward reaching an agreement next year. The “$10 billion is just one 10th of that objective,” and “we do not have any clear road map of meeting that target for 2020,” Su said. Climate aid is “a trust-building process,” he added. —Alex Morales and Reed Landberg, Bloomberg, 5 December 2014

Rich nations’ pledges of almost $10 billion to a green fund to help poor nations cope with global warming are “far from adequate,” particularly Australia’s lack of a donation, the head of China’s delegation at U.N. climate talks said on Thursday. Su Wei also urged all rich nations to deepen their planned cuts in greenhouse gas emissions, signaling that a joint Chinese-U.S. announcement of greenhouse gas curbs last month does not mean an end to deep differences on climate policy. —Reuters, 5 December 2014

Source: Dr. Benny Peiser and the GWPF

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