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Europe Is Losing The Climate Wars As China Demands $100 Billion

Business Times

China on Wednesday accused developed countries, including the US, of doing too little to curb global warming, ahead of a UN summit discussing controversial issues including climate compensation.

China is the world’s second-largest economy and the biggest emitter of carbon dioxide, but has repeatedly argued that developed nations should lead on tackling international climate obligations.

“Developed countries’ insufficient political will to provide support” is the “biggest problem” currently facing international climate efforts, said Zhao Yingmin, Vice-Minister of ecology and environment, at a press conference on Wednesday.

An environment ministry report released at the briefing also criticised the US – currently in the process of pulling out of the 2015 Paris Agreement on global warming.

“These unilateral behaviours seriously harm the global community’s willingness and trust in tackling climate change together,” the report says.

The US generated more oil and gas than any other nation last year and is the world’s number two coal producer after China.

Mr Zhao called for developed countries to honour financial commitments including providing US$100 billion to poorer states harmed by climate change.

The US$100 billion – which China has said it is entitled to part of – was a non-binding accompaniment to the Paris Agreement, and was the annual amount that rich countries pledged to muster by 2020.

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