The World Climate Talks continues in Lima on its 5th day of meetings. Delegates from more than 190 nations are gathering there to work on a UN climate deal due to be agreed in Paris next year.
The Lima meeting is set to produce the draft document that nations can sign in Paris and start bringing down their carbon emissions. The Green Climate Fund, or GCF, is another issue on the agenda with the goal of collecting 100 billion US dollars by 2020 to help developing countries meet the demands of reducing their emissions and adapting to climate change.
More than 20 countries had committed nearly 10 billion US dollars by the opening of the conference. Su Wei, the head of the Chinese delegation at the UN climate talks, has urged all rich nations to deepen their planned cuts in greenhouse gas emissions. He also added that the donor pledges last month totalling 9.7 billion US dollars to a new UN GCF were only a small part of needed cash.
"The objective for 2020 is the provision of 100 billion US dollars per year by then, so 10 billion is just one tenth of that amount. Yet we do not have any clear roadmap or clear picture of meeting that target by 2020. Of course the 10 billion US dollars is not for a single year. It applies to initial capitalization of the Green Climate Fund. That’s why I said it is maybe far from adequate. It would range from three to four years. So there is still a large gap between now and the 2020 target of 100 billion US dollars per year," Su says.