China supports the 27th session of the Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change in making reasonable arrangements on the issue of loss and damage, which is of great concern to developing countries, and urges developed countries to earnestly fulfill their historical responsibilities and their due international obligations, Foreign Ministry spokesperson Zhao Lijian said on Wednesday.

"In particular, developing countries should deliver on their promise of mobilizing $100 billion per year for climate action in developing countries as soon as possible, offer a roadmap for doubling adaptation finance, and take credible steps to help developing countries improve climate resilience, enhance mutual trust between the North and the South and form greater synergy in actions," Zhao said.

Zhao made the remarks at a regular press conference on Wednesday when asked about a new report commissioned by the COP26 and COP27 climate summit hosts that said developing countries need investments well beyond $2 trillion annually to stop global warming and cope with its effects.

The global process of climate change now faces severe challenges, and developing countries have suffered the most from climate change, Zhao said.

China is a country that walks the walk in climate response, highlighting that it has actively implemented the national climate change strategy and unswervingly pursued a green and low-carbon path of development that prioritizes ecological protection, he said.

Since China announced the ambitious goals of carbon peaking and carbon neutrality, notable progress has been made in that direction, he added. 

From 2012 to 2021, China supported an average annual economic growth rate of 6.6 percent with an annual energy consumption growth rate of 3 percent; its carbon dioxide emissions per unit of GDP dropped by about 34.4 percent, and its energy intensity fell by 26.4 percent, achieving a cumulative saving of 1.4 billion tonnes of standard coal, Zhao noted.

"In July 2021, China formally launched the national carbon emission trading market, which covers about 4.5 billion tonnes of carbon dioxide emissions per annum, making it the biggest of its kind in the world. At the just concluded 20th National Congress of the Communist Party of China, important plans were laid out for fulfilling the dual carbon goals," the spokesperson said.

And China will continue to work with other parties to play an active role in global climate governance and jointly respond to the challenge of climate change.