China’s first dedicated environmental fund, the National Green Development Fund, will mainly be used to invest in national strategic programs such as the green development of the Yangtze River region.

Chinas as already raised ¥88 billion, that’s $12.59 billion. The world’s biggest greenhouse gas producing country has been trying to diversify its funding sources for environmental programs; however, it has struggled to devise new financing systems to help pay the massive costs of cleaning up polluted soil and water.

As part of the Paris Climate Agreement, China pledged to cut the amount of CO2 emissions it produces per unit of GDP by 40 to 45 from 2005 to 2020. In its five-year plan, China also pledged to cut carbon intensity by 18 from 2015 to 2020.