CNN: China Stops Coal Investment But Funds Oil and Gas Projects

CNN Indonesia: Riset: China Setop Investasi Batu Bara Tapi Danai Proyek Migas

CNN Indonesia: Riset: China Setop Investasi Batu Bara Tapi Danai Proyek Migas

February 10, 2022: Jakarta, CNN Indonesia –China will stop  investing in the coal sector in 2021. However, China is still funding other fossil fuel projects.

This was revealed in a research report by the think tank The Green Finance & Development Center (GFDC) Fudan University ‘Brief: China Belt and Road Initiative (BRI) Investment Report 2021’.

Meanwhile, Wawa Wang, director of Just Finance International, said Chinese funding continues to exacerbate the climate crisis in the Western Balkans, a region where Chinese loans can expand new coal projects.

According to her, the biggest beneficiaries are state-owned companies that build these projects. “The world is waiting for Chinese banks to follow the lead of the international community to stop funding for international coal projects by 2021,” Wang said.

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