The Biden administration officially decided on Saturday to pay climate reparations to underdeveloped countries, a move that might actually end up benefitting China, the world’s biggest producer of greenhouse gases and one of its largest economies.
Over the weekend, administration officials returned from the United Nations Climate Change Conference with a global agreement to establish a “climate justice” fund through which the United States and other wealthy countries would pay developing countries for “loss and damage” caused by climate change.
However, the United Nations still defines China, which has the world’s second-highest GDP, as a poor country, which means it might benefit from the fund.
Aside from its economic importance, China is by far the world’s leading carbon emitter.
According to CNBC, China produces more greenhouse gases than those of the U.S. and developed countries put together.
Biden’s decision to support the climate fund comes only days after his climate czar, John Kerry, told reporters that such a fund was “simply not going to happen.”
Aside from the Biden administration’s backing for climate reparations, conference delegates were chastised for flying in gas-guzzling private jets to the two-week meeting in Sharm El Sheikh, Egypt’s luxury resort town.
Congress will still have to approve any payouts to foreign countries agreed to by Biden, something that may be unlikely to happen with a Republican controlled house of representatives.