...

Xi Jinping may have just signaled the end of international coal financing




  • In World
  • 2021-09-21 20:43:16Z
  • By The Week

International funding for coal may have just met its end.

Chinese President Xi Jinping said during his video address to the United Nations General Assembly on Tuesday that Beijing will no longer build coal plants overseas and instead support developing countries in the transition to green and low-carbon energy.

Politico's Karl Mathieson notes that China is by far the largest financer of international coal, and considering the next largest backers - Japan and South Korea - previously made similar commitments, the practice will no longer have much, if any, actual weight behind it.

While Xi's announcement appears to be a big deal, Belinda Schäpe of climate think tank E3G points out that China still hosts more than 50 percent of the world's coal fleet, so Beijing still needs to "lend credibility" to its domestic climate targets and unveil a clear timeline for phasing coal out at home.

You may also like

7 painfully funny cartoons about America's endless vaccine fights

Did Theranos Lose Afghanistan?

Seven Brides for Seven Brothers star Jane Powell dies at 92

COMMENTS

More Related News

Apple takes down Quran app in China
Apple takes down Quran app in China

The popular Islamic app was removed in the country, after an official request.

Nuclear Quants Say Watch China to Predict Iran Talks Outcome
Nuclear Quants Say Watch China to Predict Iran Talks Outcome

(Bloomberg) -- Energy traders weighing the probability of a revived nuclear accord between Iran and world powers might do better to train their gaze on...

UN extends Haiti mission by nine months
UN extends Haiti mission by nine months
  • World
  • 2021-10-15 22:22:03Z

The United Nations Security Council extended the UN mission in Haiti by nine months on Friday after an 11th-hour compromise was struck between western powers...

China launches second crewed mission to build space station
China launches second crewed mission to build space station
  • US
  • 2021-10-15 16:48:31Z

JIUQUAN, China (Reuters) -China on Saturday launched a rocket carrying three astronauts, including one woman, to the core module of a future space station...

China launches 3 astronauts on 6-month space station mission
China launches 3 astronauts on 6-month space station mission

China on Saturday launched a three-person crew for a six-month mission aboard its space station that is planned at setting a new record for the length of...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: World