China announces Biodiversity Fund for ecological protection

Chinese President Xi Jinping on Tuesday announced a USD 233 million fund to support biodiversity protection in developing countries. Xi was addressing a UN conference- Leaders' Summit of the 15th meeting of Conference of the Parties to the Convention on Biological Diversity- via a video link in Beijing. We need to practice true multilateralism, and effectively honour and implement international rules, which are not to be exploited or discarded at one's own will, he said. “China will take the lead and contribute 1.5 billion yuan to set up the Kunming Biodiversity Fund to support biodiversity development of developing countries,” Xi Jinping said.

Xi said that the new environmental protection targets we set need to be ambitious on the one hand and pragmatic and balanced on the other, so as to make the global environmental governance system fairer and more equitable.  China will continue to readjust its industrial structure and energy mix, vigorously develop renewable energy, and make faster progress in planning and developing large wind power and photovoltaic bases in sandy areas, rocky areas and deserts, he said. Stating that China will vigorously develop renewable energy, Xi said that China has begun constructing 100-mln-kw wind, photovoltaic power projects in desert areas. China, the world's largest carbon emitter has stated earlier that its carbon emissions should peak by 2030 and then decline, with a goal of reaching carbon neutrality by 2060.