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Article

23 Jul 2017

Author:
Milton Leal, China Dialogue (UK)

China moves forward with its national policy to reduce coal consumption, yet increases external financing for coal in Brazil

"Chinese involvement in Brazilian coal power sector causes concern" 10 July 2017

While China moves forward with its national policy to reduce coal consumption and increase generation of electricity from renewable sources, Chinese banks and contractors specialising in coal-fired power are looking abroad to develop energy projects, including in Brazil... Experts believe China’s coal consumption peaked in 2013 or 2014. At the time, Chinese Premier Li Keqiang declared a “war on pollution” and the government has taken measures to bring it down in order to reduce CO2 emissions... According to [Kevin] Gallagher, [professor of global development at Boston University] one of the reasons behind the increased Chinese presence in external financing for coal is because several international banks such as the World Bank and the Inter-American Development Bank (IDB) decided to stop funding it due to its high environmental impact... Data compiled by chinadialogue and CEE Bankwatch Network show that a series of Chinese-funded thermoelectric coal projects have been announced or are in development as of 2015...