‘Game-changer’: China to stop funding overseas coal projects – By News Agencies (AL Jazeera) / Sept 22 2021
Chinese President Xi Jinping has said that China would no longer fund the construction of new coal-fired power projects overseas, surprising the world on climate for the second straight year at the United Nations General Assembly.
China has supported coal projects in developing countries including Indonesia and Bangladesh and has been under heavy diplomatic pressure to put an end to the financing to help the world meet the goals of the Paris climate agreement to reduce carbon emissions.
Xi’s announcement on Tuesday followed similar moves by South Korea and Japan earlier this year.
“China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad,” Xi said in a pre-recorded video address at the annual UN gathering.
