Despite Beijing’s pledge to stop building overseas coal projects, dozens were found to have still gone ahead, and the energy efficiency of the existing ones also need improvement. About a year ago, Chinese president Xi Jinping made a pledge at a United Nations meeting that the enormous coal-fired power plants funder would halt any new projects overseas.… Continue reading FairPlanet: China’s no new coal overseas pledge has a big catch
Tag: President Xi Jinping
Environment protection on hold as work to extract oil starts in Uganda
Protecting the environment and biodiversity was regarded as a key element in the planning of the East African crude oil pipeline (EACOP), the longest heated crude oil pipeline in the world. However, an undercover visit to Uganda’s Lake Albert region shows that the contractors, French company TotalEnergies and state-owned China National Offshore Oil Corporation (CNOOC),… Continue reading Environment protection on hold as work to extract oil starts in Uganda
New Statesman: China’s global coal machine won’t be stopped so easily
By Nick Ferris, New Statesman, 12 May 2022 China has pledged to stop funding coal plants around the world but loopholes mean new ones are still being built. Some suggest that weak transparency requirements in China for public investments will allow the country to continue investing in projects that go against climate action goals. “If… Continue reading New Statesman: China’s global coal machine won’t be stopped so easily
Grid: China’s promise to stop building coal plants overseas is full of caveats and loopholes
“I think the pledge is quite limited because it addresses the ‘new’ aspect only,” said Wawa Wang, program director of Just Finance International, adding that the government’s definition of “new” allows China to continue building dozens of plants.
China Dialogue: Coal-powered industrial parks test Indonesia’s climate pledges – and China’s too
Industrial parks at three of Indonesia’s nickel hotspots – Obi Island, Morowali and Weda Bay – aim to have 14 coal power plants with 71 turbines, totalling 12,579 MW, according to GEM data. That’s more than double the 6,109 MW of captive power the nation’s nickel industry already has in operation. Tsingshan, which runs the… Continue reading China Dialogue: Coal-powered industrial parks test Indonesia’s climate pledges – and China’s too
China Dialogue: China’s overseas coal pledge yields mixed results in Serbia and Bosnia
The Balkan nations are among the first to feel effects of President Xi’s announcement of an end to support for coal projects, as struggles over energy transition persist.
Capital Monitor: China is stopping financing coal power overseas – so what?
If the announcement only applies to projects announced from September 2021 onwards, it will have “very few climate-saving impacts because negotiation and implementation of any agreement for coal takes years” and the average coal-fired power plant operates for at least 40 years, says Wang Wawa, programme director at Just Finance International. Read the article in… Continue reading Capital Monitor: China is stopping financing coal power overseas – so what?
South China Morning Post: 5 things you need to know about China’s power crisis
“There is a transparency problem for China’s overseas coal deals,” said Wawa Wang, programme director at Just Finance. “It makes the monitoring of critical information specific to project appraisal, project status and financial disclosure difficult.”
Bloomberg: China Could Build New Coal Plants Overseas Even After Xi Pledge
“There is a transparency problem for China’s overseas coal deals,” said Wawa Wang, program director at Just Finance. “It makes the monitoring of critical information specific to project appraisal, project status and financial disclosure difficult.”
The Guardian: China pledge to stop funding coal projects ‘buys time for emissions target’
“While we welcome China’s pledge, we are waiting to see how much weight this announcement will hold,” said Wawa Wang, program director of Just Finance International. “Whether Beijing will deliver on this exit from building coal-fired power plants depends on whether it introduces a time-bound exit which reins in all forms of support – finance and construction combined – for all its overseas coal and associated projects.”