China has called on rich nations to contribute US$490 billion to developing economies to help them combat the effects of a changing climate, Bloomberg reported. From 2020, richer countries should give at least 1% a year of their GDP to the Green Climate Fund based in Songdo, South Korea, China said in a submission published on Thursday on the website of the UN Framework Convention on Climate Change. The fund is preparing to raise initial capital this year as nations struggle to meet a target to limit global warming.
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