China Asks Rich Nations to Fund Greenhouse Gas-Cutting Technology

November 10, 2008 By 9 Comments

Chinese Premier Wen Jiabao

China has called upon rich nations to abandon their “unsustainable lifestyle” to fight climate change and expand help to poor nations bearing the brunt of worsening droughts and rising sea levels. (Reuters)

This year, China surpassed the U.S to become the largest emitter of carbon dioxide,  the main greenhouse gas from industry, power plants and vehicles lifting global temperatures.

Unlike other developing nations (such as India and Brazil) China has not taken an active role in the discussions against global warming.Even now it is against binding caps on its emissions. However Chinese Premier Wen Jiabao has announced that China will look to curbing pollution if developed countries commit to clean energy technology transfers and funding.

China is promoting a plan to dramatically boost the flow of greenhouse gas-cutting technology from wealthy economies to developing countries. According to Zou Ji, a professor at Renmin University in Beijing involved in shaping this plan, China proposes that developed countries devote a percentage of their  GDP to the technology transfer fund and to other global warming initiatives in developing countries. This would result in a total of $284 billion a year if members of the Organization for Cooperation and Economic Development (OECD) paid up based on the size of their economies in 2007.

Premier Wen says that the global financial crisis should not distract the international community from fighting global warming.  China’s economic interests definitely appear to be tied to protecting the environment. The Xinhua News Agency has just announced a massive domestic economic stimulus package worth 4 trillion yuan ($586 billion) through 2010. Investment will be made in infrastructure, social welfare and environmental protection.

Image Credit: Reuters

Filed Under: News Tagged With: , , , , , ,
  • Free lunch

    I believe it is time to call China a developed country. The size of their economy and greenhouse gas emissions is more than sufficient (e.g. #1/2 globally range) to be considered a leading world economic power.

  • Free lunch

    I believe it is time to call China a developed country. The size of their economy and greenhouse gas emissions is more than sufficient (e.g. #1/2 globally range) to be considered a leading world economic power.

  • Eric

    The problem with China is that they want to play the game with two faces. When it comes to issues such as sustainability and human rights they are the still developing country that should be allowed to pollute and turn a blind eye to violations for the sake of economic growth. However, when the spotlight is on them (Olympics, anyone) they demand to be seen as a developed and modern nation.

  • Eric

    The problem with China is that they want to play the game with two faces. When it comes to issues such as sustainability and human rights they are the still developing country that should be allowed to pollute and turn a blind eye to violations for the sake of economic growth. However, when the spotlight is on them (Olympics, anyone) they demand to be seen as a developed and modern nation.

  • http://reenita.com Reenita Malhotra

    I agree with Eric. China does seem to be a bit of a two faced devil. It is high time though that they put their money where their mouth is.

  • http://reenita.com Reenita Malhotra

    I agree with Eric. China does seem to be a bit of a two faced devil. It is high time though that they put their money where their mouth is.

  • http://globalpatriot.com Global Patriot

    Yes, they are two-faced, as are all major world powers, but they have the ability to move technology forward at a rapid pace. Imagine, if they pursued solutions to environmental issues with the same focus as they have pursued commercial opportunities. The US (and all Western countries) would be playing catch-up once again – and that wouldn’t be a bad thing.

  • http://globalpatriot.com Global Patriot

    Yes, they are two-faced, as are all major world powers, but they have the ability to move technology forward at a rapid pace. Imagine, if they pursued solutions to environmental issues with the same focus as they have pursued commercial opportunities. The US (and all Western countries) would be playing catch-up once again – and that wouldn’t be a bad thing.

  • Pingback: Is the West responsible for China’s CO2 emissions? : The Inspired Economist