China willing to make loss and damage payments

China is willing to participate in a financial mechanism to compensate for loss and damage caused by climate change. As Reuters reports, Chinese special climate envoy Xie Zhenhua announced at COP27 on Wednesday. According to the report, Xie said, „It is not the obligation of China but we are willing to make our contribution and make our effort.“ Since the People’s Republic is not an Annex I country, it is not obliged to participate in loss-and-damage instruments.