China Will No Longer Help Poor Countries With Their Coal Projects

China sadly going woke on weather doomsday, Third World abandoned

Everyone else has pulled out of poverty with coal those still poor today will have to do it with windmills.

Chinese President Xi Jinping said in a pre-recorded address at the United Nations General Assembly on Tuesday that China would help developing countries build green energy production and halt construction of coal power plants abroad.

China has been under international pressure to announce an end to overseas coal financing as part of its updated package of national climate pledges to be submitted to the United Nations,

Beijing is the largest source of financing for coal power plants globally, and Xi’s announcement will have a far-reaching impact on coal power expansion plans in countries like Bangladesh, Indonesia, Vietnam and South Africa.

Reuters Graphics Reuters Graphics

The announcement could affect 44 coal plants earmarked for Chinese state financing, totalling $50 billion, according to Global Energy Monitor (GEM), a U.S. think tank. That has the potential to reduce future carbon dioxide emissions by 200 million tonnes a year, GEM told Reuters.

“China’s announcement is one of the most significant developments on the climate front this year, as it may well mark the end of international public financing for coal plants,” said GEM’s coal program director, Christine Shearer. “We’ll find many countries turning to alternative sources of power generation instead, and hopefully they are supported to ensure it’s clean energy.”

Environmental groups also said it would force big coal financiers like the Bank of China, linked with 10 gigawatts of overseas coal power capacity, to draw up a timetable to withdraw from the sector.

China’s pledge followed similar moves by South Korea and Japan this year, turning off the taps of the last three major public financiers of overseas coal power plants.

It came hours after U.S. President Joe Biden vowed to double spending on helping developing nations deal with climate change, to $11.4 billion by 2024 [which is peanuts, besides what they need to deal with isn’t climate change but poverty], as world leaders put down markers ahead of the COP26 United Nations climate change summit starting in November.

Despite widespread optimism about Xi’s announcement, his carefully worded statement revealed few details and left room for existing projects to continue.

There are more than 20 Chinese financed coal-fired power units under construction in South Africa, Pakistan, Indonesia, Vietnam, Bangladesh, Zimbabwe, Serbia and United Arab Emirates, according to data from the Boston University Global Development Policy Centre. Another 17 are in the planning stage.

“The details of the overseas coal exit have not been defined yet, including timetable, eligibility, and separation between public and private financing,” said Yan Qin, lead carbon analyst at Refinitiv, a financial data provider. “But I am less worried about the details. When China’s leader announced this goal, the statement can be this simple and short, but it will be implemented thoroughly.”

The new commitment also doesn’t address China’s plans to expand its own coal-fired power plants.

China’s domestic programme accounts for more than half of all the coal-powered plants under construction throughout the world, according to a report published this month by E3G, a European climate think tank.

While Xi has promised to “strictly control” new domestic coal power capacity over the 2021-2025 period, the country will not begin to reduce coal consumption until 2026.

China-backed coal power plants now at risk
China-backed coal power plants now at risk

Carbon dioxide emissions by region

Source: Reuters

  1. ken says

    Notice no actual pollution graphs… just a gas that is part of the earths NORMAL atmosphere. This is what they’re basing all their bs on.

    In the 1960s – 1990s all we heard was pollutants. Nitrogen Oxide, lead, carbon monoxide, and particle pollution.

    By 2000 all that was pretty much eliminated. Clean coal and natural gas electrical plants came online eliminating better than 95% of pollutants. It was so successful that the environmentalist nazis were running out of things to complain about.

    In the 1970s we were told the earth was cooling. Soon it would be an ice cube,,, then,,, when it became obvious ‘real pollution’ was being eliminated it all flipped to globull warming. Now instead of freezing to death we will be incinerated and the only culprit was CO2,,, worse, man made CO2!

    All gasses are to some degree greenhouse gasses,,, CO2 being one of them but considering it comprises so small a part of the atmosphere it is laughable that it would/could ever create global warming to the degree they are claiming. Actually CO2 is more a marker of warming than a cause.

    The biggie is water vapor. When a cold front passes the nighttime temps will drop 15-25 degrees because the air is less humid. Note there is no change in the CO2.

    In fact CO2 is at its lowest point in the history of the earth. More CO2 would greatly increase food production as plants use this to convert sunlight energy. Of course finding anything good about CO2 is next to impossible on the internet as it has been scrubbed.

    The main point is CO2 is it is NOT a pollutant. Rather it is life itself. Without it life would not exist and of course they want to reduce it…. it seems anything that kills more of ‘us’ is fine with them.

    The fact they are taxing it should tell even the most ignorant among us that it’s a scam. They don’t hide any of their scams,,, in fact they like telling you in various way how they are deceiving you. It give them the big head,,,

    They have tried so many ways to eliminate what they call fossil fuels. Scarcity was one such attempt. We’re going to deplete oil reserves in 20 years is one I remember. Problem was, they kept finding more and more. So that failed,,, you rarely hear that today.

    Mother earth provides us with all the energy we need. It’s man that is trying to deprive us of low cost energy. Green technology is just more control and more wealth for them.

    The energy used to create, operate and maintain the green energy devices,,, wind/solar far exceeds the return. Nuclear is considered green but only by ignoring all the waste. Now they’re drilling holes in the earth to hide it. That will end up a far larger problem than their globull warming.

    Even dogs know not to defecate where they sleep.

    Bottom line….

    1. Ron says

      “The main point is CO2 is it is NOT a pollutant. Rather it is life itself”.

      “Green technology is just more control and more wealth….”.

      Needs to be repeated….

    2. XSFRGR says

      AN EXCELLENT POST !! I began my career building coal fired plants in the 70’s, and 80’s. I then switched to gas fired plants, and then to retrofitting coal fired plants. Finally I was working on nuclear generating stations. When I had enough I went to pipelines, and finally retired. I’ve watched it all come, and go. There has been no appreciable damage to the environment, but they wont stop complaining until breathing grade air comes out of the stacks. Nukes are clean, and safe, but Boobus Americanus is too dumb to get past the lies. It’s just a money game that makes the rich richer while the rest of us can freeze in the dark. AMERICA IS TOO STUPID TO LIVE !!

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