China Has Kept Its Promise to Stop Funding Overseas Coal, but Loopholes Are Helping Coal Expand – WTOP News
The report says 61.5 GW of planned capacity was scrapped, but private Chinese firms still backed new coal projects in several countries.
- A new report finds China canceled 67% of overseas coal projects planned five years ago, a 61.5-gigawatt reduction that prevented 6.4 billion tonnes of lifetime carbon dioxide emissions.
- Five years after Chinese President Xi Jinping pledged to halt overseas coal financing in 2021, the state sector has made 'significant progress,' though private companies continue developing projects.
- Indonesia leads continued Chinese investment with 17.1 gigawatts of planned capacity, focusing on 'captive coal' infrastructure to power heavy industries like nickel smelting.
- Southeast Asian nations ramped up coal use to secure 'energy security' following wars in Ukraine and Iran, testing the resolve behind China's coal moratorium in the region.
- Li Shuo, director of the Asia Society Policy Institute's China Climate Hub, calls the transition 'a two-party tango,' saying further progress requires Beijing to prioritize renewable energy internationally.
29 Articles
29 Articles
China has kept its promise to stop funding overseas coal, but loopholes are helping coal expand – WTOP News
UNITED NATIONS (AP) — Addressing the U.N. General Assembly in 2021, Chinese President Xi Jinping pledged to stop funding overseas coal power plants in an effort to help curb climate change. Five years later, as the assembly meets this week, the world’s climate commitments are dangerously offtrack, and the phase down of coal is inching...
The Toronto Star
China has kept its promise to stop funding overseas coal, but loopholes are helping coal expand
UNITED NATIONS (AP) — Addressing the U.N. General Assembly in 2021, Chinese President Xi Jinping pledged to stop funding overseas coal power plants in an effort to help curb climate change. Five years later, as the assembly meets this week,…
China has set two major climate targets: a peak of its CO2 emissions by 2030, and carbon neutrality by 2060. In 2021, Xi Jinping also promised to stop building coal-fired power plants abroad. Five years later, a new report by the Helsinki-based Centre for Energy and Air Quality Research (CREA) and People of Asia for Climate Solutions (PACS), headquartered in the Philippines, presents a mixed picture of this commitment.
China is cutting funding for two-thirds of the foreign coal-fired power plants in which it participates, according to an analysis by environmental organizations Crea in Finland and Pacs in the Philippines. This cancellation of plants in Indonesia, Zimbabwe, and Bangladesh is expected to save 6.4 billion tonnes of potential CO2 emissions.
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