Justin Yifu Lin calls for green fund for developing countries

Updated 2017-12-10 17:32:15 Xinhua

Former chief economist of the World Bank Justin Yifu Lin has called for the establishment of a green fund to encourage developing countries to adopt green industrial approaches.

Lin, now director of the Center for New Structural Economics of Peking University, made the remarks during a UN Environment book launch Saturday evening in Beijing.

Green industrial approaches are becoming the consensus today to pursue development in parallel with environmental protection, but green technologies are neither available nor affordable for developing countries, said Lin.

"Green technologies require innovation and huge capital input," said Lin. "They will only come from high-income countries or large middle-income countries like China."

According to Lin, compared to traditional energy, renewable energy is more expensive, so subsidies to the developing world to adopt new technology are desirable.

"Some kind of global green fund to subsidize developing countries is needed to adopt green industrial technologies in the industrialization process," said Lin.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 25 2018 07:56:46

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 25 2018 07:56:46

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 25 2018 07:56:46

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords