: Where things stand one year after China promised to stop building coal-powered projects overseas #IndiaNEWS On September 21 last year, China’s president, Xi Jinping, told the United Nations General

@IndiaNEWS

Posted in: #IndiaNEWS

Where things stand one year after China promised to stop building coal-powered projects overseas #IndiaNEWS
On September 21 last year, China’s president, Xi Jinping, told the United Nations General Assembly via video link that China would increase support for green and low-carbon energy in developing countries, and not build any new coal-fired power projects overseas.The move reflected a wider backing away from coal among traditional and emerging aid donors. Two of Asia’s main exporters of coal power projects, Korea and Japan, had made similar statements in June 2021. The month after Xi’s announcement, Organisation for Economic Co-operation and Development members said they would no longer offer export credit support for coal power plants unless plans to abate emissions were in place.China has been a major builder of coal power plants around the world, often providing both the finance and the technology. Its decision is having and will have a profound effect, both at home and in expanding the low-carbon development and energy transition paths of developing nations.Policy announcements and signsSince the announcement, China’s government bodies, financial institutions and power plant builders have been working at the policy, finance and project level to increase support to renewable energy projects in its overseas energy investments.At the policy level, in March this year the National Development and Reform Commission and three other government bodies published...Read more

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!