Analysis: China has been classified as developing country since 1992. Now, China is the world’s second-largest economy and the biggest emitter of greenhouse gases. Some say the classification allows China to avoid paying for the ravages of climate change.
to compensate vulnerable countries for the costs of addressing rising seas, stronger storms and other effects of a warming world. Analysts say it is unlikely that China will pay into the fund, despite its rapidly rising contribution to the greenhouse gases heating the planet., a senior policy adviser at. “So it is a very valid question to talk about growing responsibility from China on the international stage.”The question is a politically sensitive one.
Liu added that developed countries have still not followed through on their 2009 pledge to provide $100 billion annually to help developing countries transition to greener economies and adapt to mounting climate disasters. In 2020, rich countries fell nearlyChinese officials have not officially said whether they will contribute to the “loss and damage” fund.
said paying into the fund could set an unwelcome precedent for Chinese policymakers, forcing them to take on more responsibility within the U.N. system. “It would be tantamount to accepting developed country responsibility, and that has always been a red line for China,” he said.While American diplomats agreed to establish the “loss and damage” fund, reversing long-standing U.S. resistance to the idea, there is no guarantee that Congress will appropriate the money. Last year,requested $2.5 billion for international climate finance but secured just $1 billion, and that was when Democrats controlled both chambers.
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