China pledges $3 bn to fight climate change

Washington: China has pledged $3 billion to help other developing countries combat climate change.

The China South-South Climate Cooperation Fund will also enhance their capacity to access the Green Climate Fund (GCF), Xinhua news agency cited a China-US joint presidential statement on climate change signed during Chinese President Xi Jinping's state visit to the US.

China and US recognised the importance of mobilising climate finance to support low-carbon, climate-resilient development in developing countries, according to the statement.

In this connection, the US also reaffirmed its $3 billion pledge to the GCF.

In the statement, the Chinese and US presidents reaffirmed determination to implement domestic climate policies, strengthen bilateral coordination and cooperation, and to promote sustainable development and the transition to green, low-carbon as well as climate resilient economies.