China Halts Overseas Coal Funding But Loopholes Allow Expansion
· World · The Independent, Hindustan Times
Chinese President Xi Jinping's 2021 pledge to stop funding overseas coal power plants has led to the cancellation of most planned projects. However, a new report released during New York Climate Week reveals that Chinese companies are utilizing regulatory loopholes to continue coal investments abroad. The energy shocks resulting from the Russia-Ukraine War and the conflict in Iran have increased demands for energy security in Southeast Asia. Consequently, regional nations heavily dependent on Middle Eastern fossil fuel imports have ramped up coal use while simultaneously expanding renewable energy initiatives.
Why it matters
The continued expansion of coal through regulatory loopholes undermines global climate commitments and affects energy transitions across Asia.
Read the original report — The Independent
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