However,they continue to build them in China and as they have a life of around 60 yearsthey demonstrate that they have no intention of reaching their 2060target.
Chinato Stop Building New Coal-Fired Power Projects Abroad (Bloomberg)
China plans to stop building new coal-firedpower plants abroad and will bolster support to help poorer nations developclean energy, President Xi Jinping said during the United Nations GeneralAssembly meeting on Tuesday. The announcement came a year after Xi surprisedworld leaders by pledging to make China carbon-neutral by 2060 after reachingpeak emissions by the end of the decade. He has come under pressure to back upthat promise with concrete short-term goals ahead of global climate talks,known as COP26, to be held in Glasgow, Scotland, in November. “China will stepup support for other developing countries in developing green and low-carbonenergy, and will not build new coal-fired power projects abroad,” Xi said in apre-recorded video. Xi’s announcement means one of the last sources of fundingfor global coal projects may be drying up. More than 70% of all coal plantsbuilt today rely on Chinese funding, according to the Beijing-basedInternational Institute of Green Finance. China’s Belt and Road Initiative foroverseas development projects didn’t fund any coal projects in the first halfof this year, the first time that’s happened
