China Wants International Cleantech Fund for Itself
Posted on 12:10 PM by Badshah
Perhaps 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.
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