Tatsat Chronicle Magazine

Xi Jinping of China establishes a $232 million fund to safeguard biodiversity in underdeveloped countries

October 16, 2021

Chinese President Xi Jinping established a USD 233 million fund to help biodiversity protection in underdeveloped nations on Tuesday, calling for ambitious, realistic, and balanced global environmental protection aims

China will take the lead by establishing the Kunming Biodiversity Fund with a 1.5 billion yuan (about $233 million) investment. On Tuesday, Chinese President Xi Jinping made the statement while speaking via video link to the COP15 leaders’ summit in Beijing. The fund would be used to help developing countries maintain biodiversity, according to Xi, who also stated that China encourages and invites all parties to contribute to the fund. China is moving quicker to construct a protected areas system, with national parks as the mainstay, to boost biodiversity protection, according to Xi.

As the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15) gets underway in Kunming, the capital of southwest China’s Yunnan Province, Beijing presented a slew of measures to keep the country on track to develop a beautiful China. COP15, with the theme “Ecological Civilisation: Building a Shared Future for All Life on Earth,” is the United Nations’ first global conference focusing on ecological civilization, a philosophy suggested by China.

He noted that over time, regions of the greatest relevance to the natural environment, the most unique natural landscapes, the most significant natural heritage, and the greatest biodiversity reserve will be added to the national park system. China will release implementation plans for peaking carbon dioxide emissions in key areas and sectors, as well as a series of supporting measures, to meet its carbon peak and neutrality targets, according to the president. China will also implement a “1+N” policy framework for carbon peak and carbon neutrality.

China will continue to restructure its industrial structure and energy mix, accelerate the development of renewable energy, and plan and build massive wind power and solar bases in sandy, rocky, and desert areas, according to Xi.