Chinese Wisdom in Carbon Finance Shared for Closer South-South Cooperation.

Guangzhou: The Belt and Road Capacity-building Seminar on Financing Mechanisms and Carbon Finance, organized by the Department of Climate Change of the Chinese Ministry of Ecology and Environment, has recently concluded in Guangzhou. This event was a platform for China to share its expertise and resources in climate change finance and investment with 21 officials and professionals from 13 countries, including Pakistan, Indonesia, Brazil, Laos, Cambodia, and Honduras. According to Emirates News Agency, this seminar aligns with the United Nations Framework Convention on Climate Change and the Paris Agreement, which obligates developed countries to support developing nations in their climate change initiatives. However, developed countries have not yet met their commitment to provide $100 billion annually in climate finance to these countries. Chen Zhihua, the Deputy Director of the National Center for Climate Change Strategy and International Cooperation, emphasized that the seminar's focus on climate finance is crucial, highlighting China's proactive role in promoting South-South cooperation to address climate change. The seminar included lectures and field teaching on various topics such as climate change, artificial intelligence, energy transition and carbon neutrality, low-altitude economy and smart transportation, carbon market development, green finance, and carbon finance. According to Chen Zhihua, China has been active in establishing partnerships for climate change mitigation and adaptation, having signed 53 memorandums of understanding on South-South cooperation on climate change with 42 developing countries. These efforts include building low-carbon demonstration zones and conducting training programs in which 2,600 officials and professionals from over 120 countries have participated.