China leads climate finance seminar for developing countries, including Pakistan

GUANGZHOU: China has shared its extensive experience and resources in climate change, finance, and investment with representatives from 13 countries, including Pakistan, Indonesia, Brazil, Laos, and Cambodia.

The exchange took place during the Belt and Road Capacity-building Seminar on Financing Mechanisms and Carbon Finance, hosted by China’s Ministry of Ecology and Environment. The seminar gathered 21 officials and professionals from across the globe to discuss the critical issue of climate change and the necessary financial mechanisms to tackle it.

Chen Zhihua, Deputy Director of the National Center for Climate Change Strategy and International Cooperation, emphasized the importance of this initiative, pointing out that, while developed countries are obligated to support developing nations in line with the United Nations Framework Convention on Climate Change and the Paris Agreement, they have yet to meet their annual $100 billion commitment for climate finance.

“In this context, this seminar is a significant step forward, showcasing China’s commitment to South-South cooperation in addressing climate change,” said Chen Zhihua, highlighting China’s role in leading climate action efforts.

The seminar offered lectures and practical sessions covering various topics, including climate change, artificial intelligence, energy transition, carbon neutrality, low-altitude economy, smart transportation, and the development of green finance and carbon markets.

To date, China has signed 53 memorandums of understanding with 42 developing countries, focusing on building low-carbon demonstration zones and implementing climate change mitigation and adaptation projects. Additionally, over 2,600 officials and professionals from more than 120 countries have participated in China’s climate change training programs.