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G77, China Urge Developed Countries to Fulfill Climate Finance Obligation
 

The G77 and China, a group representing 134 developing countries, has urged developed countries to fulfill their obligation of providing financial resources, including technology transfer and capacity building, to all developing countries, in the battle against climate change.

"This is a legal obligation under the Convention. It is neither 'aid' nor 'charity', nor is it the same as development assistance," according to a statement released by the G77 and China on December 2 at the ongoing 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).

The G77 and China expressed their concern about the introduction of new language, which has no basis in the Convention, such as "Parties in a position to do so" and "dynamism" that do not take into account responsibility for historical emissions.

"The G77 and China is deeply concerned with the attempts to introduce economic conditions in the finance section currently under negotiation here in Paris. This approach is not consistent with the Convention, the mandate of the ADP (Ad Hoc Working Group on the Durban Platform for Enhanced Action) and the sovereignty of Parties," reads the statement.

"In particular, the Paris outcome must provide clarity on the level of financial support that will be provided by developed country Parties to developing country Parties to allow for enhanced implementation of the Convention in the post-2020 period," it adds.

In addition, the G77 and China also required a substantial scaling up of finance from the 2020 base level of $100 billion per year.

Meanwhile, the statement pointed out that despite not having a finance obligation under the Convention, "developing countries are already making significant contributions towards the global effort through the implementation of climate actions".

Therefore, the G77 and China urged that the new climate agreement should provide for the recognition of the social, economic and environmental value of actions financed voluntarily by developing country Parties, including on adaptation, and their co-benefits to health and sustainable development.

(Xinhua News Agency December 2, 2015)

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