Poor Nations Need Financing to Cut Carbon Emissions, China Says

Developing nations that have been submitting plans to the United Nations to reduce emissions for two years have been unable to implement them because wealthier countries haven’t provided finance, according to Gambia and China.

Rich countries must present concrete finance pledges, according to Pa Ousman Jarju, Gambia’s envoy to a UN climate conference that began March 10 in Bonn. Zou Ji, from China’s National Center for Climate Change Strategy, told delegates that poorer countries including China need support to show that low-carbon lifestyles are feasible.

“We don’t want to follow the pollution path of the past,” Jarju said in an interview. Delegates need to stop informal talks and start drafting a climate deal to be adopted next year so finance can flow and nations can get a clear idea about how to make contributions before and after 2020.

The difference between what poorer countries want and what donor nations led by the U.S., Japan and European Union are offering has become a top source of friction in the UN talks, which involve about 190 nations. A three-year program of funding from rich nations finished in 2012 with $10 billion a year of payments. There’s no clear plan for how much more money will flow, and when.

Gambia is waiting for $15 million that would help it cut agricultural emissions under a so-called nationally appropriate mitigation action, or NAMA.

“We have demonstrated our willingness to contribute toward the global effort,” he said. “There are a lot of developing countries that have submitted NAMAs since 2012 and they are waiting for finance.”

Thirty-five countries have submitted NAMAs to the UN Framework Convention on Climate Change, according to its online database.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE