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China Wants International Cleantech Fund for Itself

wind turbines on earthPerhaps China’s been peering over India’s shoulder, watching the deals it’s worked out with Australia to fund its burgeoning cleantech market; and it wants some of the same.

Like China, many emerging economies need and want to cut their global warming emissions but don’t have the money to purchase the latest technologies. So China’s come up with the idea of a Multilateral Technology Access Fund to use rich nations’ capital to fund cleantech in poorer nations. Specifically, the country calls on developed nations to allocate at least .5 percent of their annual GDP to help distribute cleantech beyond commercial interests.

The Access Fund idea was discussed at a forum about next steps after the Kyoto Protocol expires. We’ll see whether the developed nations bite on this idea whole-heartedly or even strike some sort of balance with assisting the devloping world grow sustainably while also making sure that they are investing in the necessary resources at home.

People’s Daily Online

 

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Written By

I hail from Saint Paul, Minnesota, home to a region full of renewable energy potential and innovation. A public relations professional by day and blogger by night, I have a background in energy policy and communications. I'm particularly interested in the private sector's leadership and innovations in renewable energy - I cover this in my personal blog, Maria Energia. I enjoy traveling, reading, downhill skiing, scuba diving, and anything related to food (growing it, hunting it, cooking it, eating it). Fun fact: I make a 2-second appearance in An Inconvenient Truth (at the 2 minute mark, I'm the girl who is riveted.)

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