Wealthier countries called on to support developing economies in climate actions

By Wang Kai BEIJING, Oct. 20 (China Economic Net) - “The world is in climate crisis. One part of the world is not separated from the other half. It’s about shared responsibilities and developed economies need to play their role in decarbonizing much faster”. Sanda Ojiambo, Assistant Secretary-General of the United Nations and CEO of United Nations Global Compact told China Economic Net in an interview with China Economic Net on Wednesday. At the third Belt and Road Forum for International Cooperation held in Beijing between Tuesday and Wednesday this week, green development was put high on priority with world leaders calling for augmented support to developing countries for this purpose. At the High-level Forum on Green Development as part of the BRI Forum, United Nations Secretary-General António Guterres called on wealthier countries to deliver the $100 billion for developing country climate action per year, to double adaptation finance by 2025, and to operationalize the loss and damage fund at COP28 next month. “Emerging economies must be supported with finance and technology to accelerate the decarbonization of their economies while meeting their development needs”, he said. Statistics from the United Nations show that developed countries are responsible for over 75% of historical carbon emissions worldwide. “If you look in the past of western country, they brought in the challenge of the climate change. Now, they have to contribute according to their historical responsibility and the principle of equity. They have to come forward and bring in the resources for the green development”, said Shakeel Ahmad Ramay, Chief Executive Officer of Asian Institute of Eco-civilization Research and Development in an interview with CEN. According to the International Energy Agency, emerging market and developing economies will need about $2 trillion annually by 2030 to reach net-zero emission goals. This is a fivefold increase from the current $400 billion of climate investments planned over the next seven years. Mr. Erik Solheim, Senior Advisor of World Resources Institute, Vice President of Belt and Road Green Development Coalition (BRIGC) said that economy and green pursuit don’t run counter to each other, “If we go into solar, if we go into the making electric cars, if we go into hydropower, they will create jobs. It's not a cost to the economy. Developing countries need more support from the rich countries”, he told CEN.

（Editor:Fu Bo）