Report appeals for new emissions tactics

A new report on climate change by the World Bank urges nations to employ innovative market-based measures to make up for the huge shortfall of funds needed to combat global warming.

But Zhang Wencai, deputy director of the international cooperation department with the Ministry of Finance, said developing countries cannot solely rely on the private sector to make up for their lack of funds needed to adapt to climate change.

"The technology-sharing mechanism proposed by the report, in which rich countries work to develop new solutions, while developing countries pay for a research fund, is also inconsistent with the principle of the United Nations Framework of Climate Change Convention," Zhang said.