China has led a group of four major developing economies in attacking “imbalances in the negotiations” at COP25, the United Nations convention on climate change in Madrid, Spain, calling on wealthier nations to provide more funding to deal with the environmental crisis, reported the South China Morning Post.
Nearly 200 nations in attendance are scrambling to reach agreement before the conference, which has been in session since December 2, draws to a close on Friday. The joint statement by China, Brazil, South Africa and India on Wednesday laid bare major differences in financing and carbon markets rules between the more- and less-developed countries.
“[The four] countries have already set forth climate policies and contributions reflecting our highest possible ambition, above and beyond our historical responsibilities,” the signatories contended. “The time for action is now, and not next year or thereafter.”
A Chinese delegate, speaking on condition of anonymity, said: “Time is running out and we need to put some pressure on the [developed] countries to try to reach some agreement.” Zhao Yingmin, who led the Chinese delegation at COP25, said on Wednesday that developed countries “should provide new, extra support based on public funds … the strength of which shall correspond with the level of efforts of developing countries.”