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Climate Financing Demand in China to Exceed $398 Bln in 2020

A study published Wednesday at the ongoing Paris Climate Conference said the climate financing demand in China will exceed $398 billion in 2020, equivalent to 1.79 percent of China's GDP (gross domestic product) of the same year.

The study was published at a side-event in China Pavilion by the Research Center for Climate and Energy Finance (RCCEF) at Beijing-based Central University of Finance and Economics.

To achieve the official goal of an emission at peak by 2030, it is necessary to increase investment rapidly before 2020, while the growth rate of climate financing demand for each year should exceed 4 percent before coming to the highest point in 2020, the study said.

After this early stage of investment, the financing demand will remain stable and the investment scale is forecasted to stabilize around $388 billion every year till $390 billion by 2030, amounting to 1.8 percent of China's GDP of the same year, according to the study.

The study said that in the profitable stage of investment between 2030-2050, benefiting the long-term profits from the unremitting investment in the early stage, financing demand in this phrase will decrease quickly to around $233 billion by 2050.

According to Liu Qian, Associate Director of RCCEF, one of the authors of the study, domestic public funds have played an irreplaceable role in leveraging private capital. In 2014, around $31.57 billion dollars of public financial investment were invested in environment protection.

(Xinhua News Agency December 10, 2015)

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