China must increase spending on emission cuts and clean technologies by 2 trillion yuan ($330 billion) to do its fair share to halt climate change, a report by Beijing\’s Central University of Finance and Economics said.
It urged the government to raise money from carbon markets to fund investments.
The report\’s conclusion contrasted with China\’s official policy that the main responsibility for ramping up action against climate change rests with developed nations.
China, the world\’s biggest-emitting nation, has already pledged to spend 520 billion yuan to help prevent global temperatures from rising more than 2C, according to Chen Bo, co-author of the report.
But that is only a fifth of what is needed if China – trailing only the United States on the list of history\’s biggest carbon emitters – is to shoulder a proportionate burden in global efforts to stop climate change, the report said.
The main responsibility for ratcheting up the extra funds should fall on the government, it said.
via China must spend $330 billion more to do fair share on climate – report | Reuters.
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