The United Nations Fund recently announced that it will provide China with US$4.35 million to finance its sustainable energy and climate change programs. It includes the donations to support the establishment of China's first clean energy investment fund and its energy saving plan for cost effects in compliance with the Kyoto Protocol.
The money is designed to improve the fund-raising channels for the Chinese projects for the raising of energy utilization effects and for the study of recoverable energy sources. The fund for technologies conducive to climate improvement will provide original capital and technical aid to bourgeoning Chinese firms.
The donation, the first property right investment in stimulating Chinese clean energy firms, is also designed to urge Chinese and international investors to provide at least US$50 million to this end. It also hopes to cut considerably China's discharge of carbon, provide job opportunities and clean energy services to the poor to reduce poverty and eliminate the fund obstacles in sustainable development.
It will stimulate China to map and implement clean energy projects on the strength of the clean development mechanism of the Kyoto Protocol, provide fund to all-round construction plans and help Chinese industry, banking and government in mapping and implementing plans to promote clean energy development mechanism. Three experimental projects in energy efficiency, recoverable energy and coal gasification will be established with a view to providing cases for future study and training. The data so collected will be distributed over Internet and by data banks.
(www.cenews.com August 28, 2002)
