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Calling for ambitious, pragmatic and balanced global environmental protection targets, Chinese President Xi Jinping has announced a USD 233 million fund to support biodiversity protection in developing countries.
Xi was addressing a UN conference- Leaders’ Summit of the 15th meeting of Conference of the Parties to the Convention on Biological Diversity- via a video link in Beijing.
We need to practice true multilateralism, and effectively honour and implement international rules, which are not to be exploited or discarded at one’s own will, he said.
The new environmental protection targets we set need to be ambitious on the one hand and pragmatic and balanced on the other, so as to make the global environmental governance system fairer and more equitable, he said.
On this occasion, I wish to announce China’s initiative to establish a Kunming Biodiversity Fund and take the lead by investing 1.5 billion RMB yuan (USD 233 million) to support biodiversity protection in developing countries, he said and called for contributions from other countries to the fund.
China, the world’s largest carbon emitter has stated earlier that its carbon emissions should peak by 2030 and then decline, with a goal of reaching carbon neutrality by 2060.
To achieve its carbon peak and neutrality targets, China will release implementation plans for peaking carbon dioxide emissions in key areas and sectors as well as a series of supporting measures, and will put in place a 1+N policy framework for carbon peak and carbon neutrality, Xi said.
China will continue to readjust its industrial structure and energy mix, vigorously develop renewable energy, and make faster progress in planning and developing large wind power and photovoltaic bases in sandy areas, rocky areas and deserts, he said.
