China, India and South Africa have called on the developed world to contribute at least US$200 billion to help them fight climate change, Bloomberg reported. The three countries, which are among the developing world’s biggest green house gas emitters, said in a proposal to the UN that the funds would equal at least 0.5% of developed nations’ economic output. China also called for industrialized nations to commit to a cutting emissions to at least 40% of 1999 levels by 2020. This is twice the size of cuts the EU has already pledged to make. Such reductions would allow the developing world to raise emissions as their economies continue to grow.