Coal news and updates

China didn’t finance any coal projects via its Belt and Road Initiative in the first half, the first time that’s happened since the plan was launched in 2013, the International Institute of Green Finance said in a report.

 

The lack of funding from China for the dirtiest fossil fuel comes amid increased scrutiny from investors and environmental groups due to concern over its contribution to man-made climate change. More than 70 per cent of all coal plants built today rely on Chinese funding, according to the Beijing-based institute, followed by investment from Japan and South Korea. Seoul said in April that it would halt state-backed financing of coal-fired power plants overseas.

 

“It’s increasingly becoming difficult to get financing for coal projects,” said Christoph Nedopil, the author of the paper and director of the institute’s Green Belt and Road Initiative Center. “With new guidelines for greening overseas investment from the Chinese government, we expect even less opportunities for coal projects in the BRI in the future.”

 

Source : https://www.smh.com.au/business