Xi urges developed countries to honor commitments on climate finance, technology transfer

Chinese President Xi Jinping on Monday urged developed countries to honor their commitments on climate finance and transfer low-carbon and eco-friendly technologies to developing countries.

Xi made the remarks in a speech when addressing the opening ceremony of the two-week Paris climate change talks, officially called the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change.

The Chinese president called for full and effective implementation of the agreement on climate finance.

It was agreed in Copenhagen in 2009 that poorer nations vulnerable to global warming impacts would receive 100 billion U.S. dollars per year by 2020 to give up fossil fuels and shore up defenses against climate-driven food scarcity, heat waves and storm damage.

"Developed countries should honor their commitment, mobilizing 100 billion U.S. dollars each year before 2020, and provide stronger financial support to developing countries afterwards," said Xi.

"It is also important that climate-friendly technologies should be transferred to developing countries," he added.

The highly-anticipated meeting, attended by leaders from over 150 countries and senior diplomats from nearly 200 countries, aims to yield a new international agreement to reduce greenhouse gases beyond 2020 when the 1997 Kyoto Protocol expires.

Such an accord is seen as crucial for keeping the rise in global temperatures within 2 degrees Celsius above pre-industrial times, a goal scientists say should be met to avoid risky changes in the climate.

To strike a new international accord, Xi said the Paris climate talks should reject the narrow-minded mentality of zero-sum game and all countries, developed countries in particular, should assume more shared responsibilities for win-win outcomes. Endi