China Pledges to Stop Financing Coal Projects Abroad

News Flash

  • China has pledged to stop building overseas coal-fired power plants, potentially ending a major source of financing for the sector.
  • “China will not build new coal-fired power projects outside the country,” president Xi Jinping said at the UN General Assembly yesterday in a pre-recorded address.
  • Chinese President Xi Jinping said that China would help developing countries build green energy production instead. 

China is the main funder of coal projects in Africa. Chinese financial institutions are involved in 13 projects of 11 400 MW in eight countries which translates to around 76% of the total pipeline on the continent. Read more 

A timetable for China to withdraw from the sector was not specified.

Author: Bryan Groenendaal

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Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

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