China Calls Out Rich Nations on Climate Funding Shortfall

At the 2024 UN Climate Change Conference (COP29), a stark divide emerged between developed and developing nations as climate finance took center stage. The final agreement pledges $300 billion from wealthy countries to support climate action in poorer regions—but that’s just 30% of the $1 trillion annual target set last year.

China’s climate envoy, Liu Zhenmin, didn’t hold back: \"Developed countries must fulfill their commitments and lead by example.\" His words spotlight growing frustration as the Global South faces rising costs from extreme weather while struggling to fund green transitions.

Why does this gap matter? Developing nations need funds now to shift from fossil fuels, protect biodiversity, and build climate-resistant infrastructure. The shortfall risks delaying global net-zero goals and deepening inequality.

Youth activists at COP29 echoed Liu’s message, holding signs reading \"Promises Won’t Cool the Planet.\" With next year’s COP30 in Brazil, pressure is mounting for wealthy nations to turn pledges into real checks.

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Envoy: China urging developed countries to fulfill climate commitments

cgtn.com