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Special> 2012 United Nations Climate Change Conference> Latest News
UPDATED: December 6, 2012
Doha Talks Likely to Advance on Climate Finance

The ongoing Doha climate talks are likely to make progress on the issue of financial assistance, which is key for developing countries to tackle global warming, said Xie Zhenhua, China's top climate change official.

Developing and developed countries are still dividing deeply on some core issues as only three days are left for the Doha talks, but the good news is that high-level delegates of some countries or groups said they are prepared for providing climate funds and budgets, and some countries have made budgets, said Xie, head of Chinese delegation and deputy head of the National Development and Reform Commission.

"We hope these delegates could make the commitment public so as to help the Doha talks advance further to a comprehensive and balanced agreement," he said, without revealing on which countries or groups have the plans to provide fund.

He also urged other developed countries to keep their promises of raising funds to help developing countries adapt to a shifting climate.

The Group 77 and China have proposed that developed countries raise $60 billion per year, starting in 2013, for "medium- term" climate fund as the long-term finance falls into uncertainty in the wake of global economic downturn.

"Due to the economic difficulties, it may be difficult for some countries to reach an annual $100 billion finance very soon, but at least they should give a clear commitment to the mid-term fund from 2013 to 2015," he said. "It will be conducive to building mutual trust and confidence in global efforts to tackle climate change."

At the 2009 Copenhagen talks, developed countries committed to raise $100 billion per year by 2020 of climate finance and made a down payment of $30 billion between 2010 and 2012, called "fast start finance."

But it is not clear whether developed countries have fulfilled the "fast start" fund which will end at the end of 2012. The long term $100 billion fund remains empty.

"Under the Long-term Cooperative Action, we have agenda items of mitigation, adaptation, finance, technological transfer and transparency. For developing countries, adaptation is the priority, but to resolve adaptation problems, we need financial assistance," Xie said.

"It is estimated that more than $1 trillion is required to enhance the developing countries' adaptation capacities, but up to now the fund remains in the wind," he said.

Without financial support, technological transfer and cooperation on climate change are also empty words, he said.

Xie reiterated that developed countries should bear for the historical responsibilities of climate change and lead the emission cuts for better responding the climate change.

(Xinhua News Agency December 5, 2012)

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