Caixin Weekly | Exclusive Interview with China's Climate Change Affairs Special Envoy Liu Zhenmin: Having Results in International Negotiations is Better Than None (AI Translation)

财新周刊｜专访中国气候变化事务特使刘振民：国际谈判有结果总比没有好

The 29th Conference of the Parties (COP29) under the United Nations Framework Convention on Climate Change was held in Baku, Azerbaijan. The conference was extended due to a lack of agreement on funding amounts, resulting in no resolution being reached. The chairman of the conference, Mukhtar Babayev, announced a recess late on November 23 as delegates awaited further instructions, with concerns about a quorum arising due to several delegations departing the next day [para. 1].

Liu Zhenmin, China's Special Envoy for Climate Change Affairs, highlighted the financial shortfalls of developed countries to meet the needs of developing countries. He argued for establishing a new financial arrangement mechanism despite the difficulties posed by a sluggish global economy and complex geopolitical issues. He emphasized that reaching any agreement, even if imperfect, was beneficial [para. 3].

At the conference, developed countries were called upon to raise at least $300 billion annually by 2035 to fund climate actions in developing countries. These funds are to be sourced from a broad range of channels [para. 4].

Liu Zhenmin reiterated China's commitment to climate change, highlighting China's past contributions of 177 billion yuan to support other developing countries. He stressed the importance of voluntary contributions from developing countries, in line with China's principle of "common but differentiated responsibilities" [para. 5]. Liu noted that developed countries have weakened their financial commitments, broadening funding sources to include public, private, bilateral, and multilateral channels [para. 6].

China plays a significant role in global energy transition efforts, having provided substantial contributions through adaptation and mitigation actions. This reflects China's leadership in the climate multilateral process and support for the global South [para. 7]. Liu ensured that China's identity as a developing country remains unchanged despite its increased influence in climate negotiations, emphasizing China's strategic alignment with international cooperation for mutual benefit [para. 9][para. 10].

The conference discussions highlighted differing views on the involvement of the private sector versus public funds in climate finance. Liu noted that funding mechanisms were a critical sticking point in negotiations, as developing countries resist being seen as fund contributors, maintaining that financial responsibility lies with developed nations [para. 12][para. 13][para. 15].

China announced a significant contribution towards climate change efforts, emphasizing its ongoing support for developing nations through South-South cooperation. This reflects China's perspective on international cooperation, firmly against categorizing nations based on income for responsibilities in climate commitments [para. 21][para. 22][para. 24].

Liu noted some challenges in China-U.S. climate cooperation, given the anticipated changes under the new U.S. administration. Despite potential obstacles, Liu anticipated continued collaboration on specific initiatives, prioritizing mutual trust and exchange of technology [para. 30].

Overall, COP29's outcomes underscored ongoing tensions between developed and developing countries in climate finance. The conference highlighted China's leading role in the climate change dialogue, maintaining a position of significant influence while reinforcing its status as a developing country. These dynamics illustrate the complexities within international climate negotiations, where financial responsibilities and commitments are integral to progressing global climate initiatives [para. 33][para. 35].