Calculating true value of nature is tough task

The work will be carried out in the Inner Mongolia autonomous region and in Gansu, Qinghai and Shaanxi provinces, which were covered by the first phase of the partnership, as well as two new provinces (Guizhou and Sichuan), said Frank Radstake, an ADB senior environment specialist.

The technical assistance project will strengthen sustainable forest management for about 442,000 hectares of land in Qinghai province, promote tree planting and introduce forestry best practices.

It will also set up 16 sustainable land management sites to demonstrate innovative approaches to forest, grassland and farmland management and promote alternative, climate-friendly livelihoods for communities in affected areas.

Last November, the World Bank approved a municipal solid waste management project that is being financed with a $12 million grant from the GEF to China.

The project will improve the environmental performance of municipal solid waste incinerators through capacity building and the demonstration of best available techniques and best environmental practices.

Cumulative GEF financing in China exceeded $1.22 billion as of February 2013. The money has funded projects in climate change, biodiversity, organic pollutants, water and land degradation, according to the organization's website.

The GEF and the National Development and Reform Commission, the top economic planner, have agreed to promote sustainable urban development and south-south cooperation in both China and worldwide in the coming years.

China unveiled a south-south fund at a UN climate summit in New York last September and promised that China would double its current spending on south-south cooperation.

Xie Zhenhua, China's top climate negotiator at the UN's climate talks in Lima, Peru, said China will develop management measures for the new fund soon and strengthen cooperation with international organizations such as the GEF and UNEP.

Ishii emphasized China's growing role in pushing forward south-south collaboration and knowledge sharing.

"The Chinese government is not lacking money, but it appreciates the GEF's efforts in promoting cutting-edge technologies and new ways of doing business," she said.