|Xi Jinping speaks at the summit in the Chinese city of Kunming.Xi also took a swipe at the United States in his speech on Tuesday, saying: "We should practise genuine multilateralism and abide by international rules which are not to be exploited or discarded at one's own will." (Photo by= AFP)|
[Asia News = Reporter Reakkana] BEIJING: On Tuesday (Oct 12), China promised to donate US$233 million into a new fund to protect biodiversity in developing countries during a key UN conservation summit, despite disagreements among major donors on the initiative, AFP reported.
"China will take the lead in establishing the Kunming biodiversity fund with a capital contribution of 1.5 billion yuan (US$233 million) to support the cause of biodiversity conservation in developing countries," Chinese President Xi Jinping said during a speech at the COP15 conference on Tuesday. Its pledge came as delegates from about 195 countries gathered in the southern Chinese city of Kunming for the first of a two-part summit on safeguarding plants, animals, and ecosystems. The summit aims to establish a new accord setting out targets for 2050 and 2030.
A key proposal being debated at the conference is the "30 by 30" agenda that would afford 30 percent of the Earth's land and oceans protected status by 2030. Global spending to protect and restore nature needs to triple this decade to about US$350 billion annually by 2030 and US$536 billion by 2050 to meet this target, a UN report said in May. Beijing, the world's biggest polluter, has sought to play a more prominent role internationally in biodiversity conservation in recent years.