Is China Taking Unnecessary Funds from UN?

In an age threatened by melting polar ice caps and warming climates, many are eager to fight the emission of global warming gases. Even the United Nations has developed a program that aids in the reduction of such gases worldwide. Called the Clean Development Mechanism, this program more or less takes from the rich nations to give to the poor. In actuality, rich nations make donations to this program who then divides the money among developing nations, based on the amount of emissions they produce and the actual amount of money they themselves can put towards global warming gas reduction.

However, this program seems to be causing a big uproar in the international community. China, the recently claimed largest producer of global warming emissions, receives a large portion of the funds from this program. In fact, China receives about three-fifths of the funding, or roughly $3 billion. Ordinarily, that would make sense, considering that it is a developing nation, and it produces the most greenhouse gases. But, China has also recently been named as the richest nation, with roughly $1.2 trillion in foreign-exchange reserves. In other words, China could afford to pay for its own reduction, without the help of the UN. Another issue is that, even though China produces the most global warming gases, it still only accounts for less than two-fifths of the total consumption of fossil fuels, the main source of global warming. Many of the projects subsidized by the funding do just fine without the subsidies, projects like the one in Houxinqiu, China, with numerous wind turbines rising 180 feet in the air, owned by a group of Chinese companies traded on the Shanghai Stock Exchange. The company who actually operates the turbines there is called Liaoning Zhangwu Jinshan Wind Power Electricity Company, although only a small part of the conglomerate that actually owns the turbines.