China has emerged as a significant provider of global climate change funding. China now accounts for over one-third of the global renewable energy capacity, ranking first worldwide in cumulative investments in the sector, especially in developing countries. 

The country's rapid strides in energy efficiency were highlighted during the recently concluded COP29, which was the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change held from November 11 to 22 in Baku, Azerbaijan.

China contributes to climate projects in developing countries through several key channels. It provides bilateral public financing via its development finance agencies and institutions. Multilateral public financing also flows through entities like multilateral development banks and climate funds. 

A notable feature of China's approach is its use of export credits issued by organizations such as the Export-Import Bank of China and the China Export Credit Insurance Corporation. China also mobilizes private financing through its development financial institutions and guarantors, further bolstering its contributions.