China…[t]he world’s largest carbon emitter aims to reposition itself as a global green power…However, these efforts are being undercut by Chinese backed coal power plants planned and under construction from Indonesia to Pakistan, Turkey to the Balkans –as well as in Africa and Latin America. These could boost global emissions and lock developing countries into fossil fuel intensive energy systems for decades.

Beijing has encouraged state owned coal companies and energy intensive industries such as concrete, steel and cement, to “go out” as part of the One Belt One Road Initiative (OBOR). This aims to open up new opportunities for Chinese companies and to build infrastructure to link China to European markets and beyond…China had invested as much as US$38 billion…in coal fired power plants overseas between 2010-2014 and had announced plans for another US$72 billion… worth of projects… Chinese banks are particularly opaque: “Policy driven Chinese financial institutions have yet to adopt information disclosure and accountability policies to protect the rights of affected communities…”

China has no road map for phasing out overseas coal investment… China is the world’s largest issuer of green bonds, but unless progress is made fast, Chinese money and equipment will be used to lock in dirty fossil fuel in developing countries and tarnish China’s ambitions to become a green superpower.