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How many coal fired power plants are under construction in china
Published: 17.06.2022
What does China's announcement not to finance more coal ants in other countries mean?
The United Nations General Assembly has become the favorite ace of the Chinese president, Xi Jinping,to laun big announcements related to the environment by surprise, how many coal fired power plants are under construction in china. Last year committed to aieving carbon neutrality in his country by 2060. This Wednesday, in a previously recorded video intervention, he promised that Beijing will stop financing the construction of coal-fired power ants abroad. A declaration that, in practice, eliminates the financing for this type of energy in the rest of the world at a stroke.
China, the world's largest emitter and the main source of funds for the construction of coal-fired power ants (the most polluting), financed 13% of all global projects between 2013 and 2019, according to the Global Development Policy Center at Boston University. Currently, according to the E3G think tank,it is behind 55% of projects under development around the world. A practice that had generated numerous criticisms from international environmental organizations. Both the United States and the European Union had repeatedly urged this country to end the financing of this tenology and thus contribute to reducing carbon emissions on a global scale to curb climate ange.
Japan and South Korea, the other great Asian economic powers, had already publicly renounced this year to continue financing those projects. And the Chinese banks, in a preview of the policy now confirmed by the presidential announcement, had drastically reduced in 2021 the agreements for the construction of those ants. In the first half of this year, Beijing did not contribute money to any su project within its global infrastructure initiative known as the New Silk Road, according to the Beijing-based International Green Finance Institute.
“We need accelerate the transition to a low-carbon, green economy,” Xi declared, in his recorded spee. “We will spare no effort in meeting those goals. China will increase its support to other developing countries so that they can develop low-carbon, green energy, and will not build new coal-fired ants abroad.”
According to E3G, China currently has agreements for the construction of ants in 20 countries su as Bangladesh, Vietnam or Indonesia, with a total of 40 gigawatts of coal. This is equivalent to half of the currently anned capacity.
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