Xi calls for more funding from developed nations to fight climate change

Chinese President Xi Jinping called on developed countries to pitch in more money to help developing nations transition to renewable energy and cope with climate change, The Wall Street Journal reported. “Developed countries should honor their commitment of mobilizing US$100 billion each year before 2020 and provide stronger support to developing countries afterward,” Xi told world the United Nations climate summit in Paris. While the US and other developed countries are focusing on the Green Climate Fund – established to help poorer countries – China has committed about US$3 billion to its own fund to help its less-wealthy developing peers.