Hide Message

Updating the Resource Centre Digital Platform

The Business & Human Rights Resource Centre is at a critical point in its development. Our digital platform is home to a wealth of information on business and human rights, but hasn’t had a visual refresh for a number of years.

We will soon be updating the site to improve its usability and better serve the thousands of people that use our site to support their work.

Please take an advance peek at our new look, and let us know what you think!

Thank you,
Alex Guy, Digital Officer

Find Out More Hide Message

China will be increasingly alone in funding overseas coal plants despite promise of green Belt and Road Initiative, experts say

Get RSS feed of these results

All components of this story

8 May 2020

China will be increasingly alone in funding overseas coal plants despite promise of green Belt and Road Initiative, experts say

Author: Bloomberg (US)

“China Is Virtually Alone in Backing Africa’s Coal Projects”, 7 May 2020

For more than two decades, Zimbabwe has been trying to break ground on a giant coal-power complex by the world’s biggest man-made reservoir. China just agreed to get the $4.2 billion project underway…

But it flies in the face of a growing global consensus that has seen financial institutions from Japan to the U.S. and Europe shun investments in coal projects. That retreat leaves the way open for Chinese companies—many with state backing—even at the risk of undermining the spirit of China’s international commitments to fight climate change.

“We are very pleased that the project is going ahead, especially as major banks in the world are forced to stop financing coal-fired power stations,” Caleb Dengu, chairman of RioZim Energy, the company that owns the project, said in a response to questions. “This is testimony of Chinese commitment to development projects in Africa. The Chinese are interested in joining hands.”…

In fact, the Chinese government promised back in 2017 to green its Belt and Road Initiative overseas construction plan to promote environment-friendly development in line with United Nations goals. President Xi Jinping pledged last year that the program must be green and sustainable.

Yet Chinese companies and banks are involved in financing at least 13 coal projects across the continent with another nine in the pipeline, according to data compiled by Greenpeace. Since 2000, the China Development Bank and the Export-Import Bank of China alone have supplied $51.8 billion of finance for coal projects globally, according to the Boston University Global Development Policy Center.

“Despite promises to shift support to green and low-carbon energy, Chinese banks have continued to bankroll coal power projects,” said Lauri Myllyvirta, lead analyst for the Centre for Energy Research and Clean Air, an independent research body…

Power Construction Corp. of China, the state-owned company known as PowerChina, has been contracted to build the first phase of the plant known as Sengwa… Funding is likely to come from Industrial & Commercial Bank of China, while China Export and Credit Insurance Corp., or Sinosure, may provide the country risk cover needed, according to Dengu…

Repeated calls to ICBC and Sinosure went unanswered. PowerChina said that its overseas coal-related projects will adopt the most efficient technologies to reduce pollution emissions, and will abide by local environmental regulations and standards while aiming to provide stable and cheap electricity supply for host countries.

Last month a deal was signed for the rest of the project, which will add a further 2,100 megawatts at a cost of $3 billion. China Gezhouba Group, which is partly state-owned, will develop the project and lead fund raising, Dengu said. The company didn’t respond to calls and an email request for comment…

As banks in other countries including Japan and South Korea snub coal, those projects will increasingly rely on China…

[Also referred to Rio Tinto Group, RioZim Ltd, General Electric Co., Blackstone Group LP, Morgan Stanley and Citigroup Inc.]

Read the full post here

+ 简体中文 - Hide

Author: 彭博(美国)





“我们很高兴看到项目有所进展,特别是在当前世界主要银行被迫停止资助煤电站项目的背景下,”负责该项目的津巴布韦RioZim 能源有限公司的董事长Caleb Dengu 在回答提问时说道。“这是中国致力于非洲发展项目明证。中国有意进行合作。”……



独立研究机构能源与清洁空气研究中心的首席分析师Lauri Myllyvirta说,“虽然承诺转向支持绿色和低碳能源,中国银行还是继续资助煤电项目”……

中国国有企业中国电力建设集团有限公司(PowerChina)签署了一份施工合同,承建Sengwa火电厂一期工程……RioZim 能源有限公司的董事长Dengu透露,中国工商银行已正式表达了对该项目的兴趣,并正在与中国出口信用保险公司(Sinosure)谈判,以支付国家风险保险成本。


Dengu还表示,承建火电厂其余工程阶段的合同已在上个月签署,拟增加发电量2100兆瓦,预计耗资30亿美元。中国国有企业中国葛洲坝集团公司(China Gezhouba Group)将开发该项目,并协助融资。该公司对要求其就此事发表评论的电话和邮件均无答复……


[文章提及力拓集团(Rio Tinto Group),RioZim 能源有限公司,通用电气公司(General Electric Co.),黑石集团(Blackstone Group LP),摩根士丹利(Morgan Stanley)和花旗集团(Citigroup Inc.)]

Read the full post here

+ 繁體中文 - Hide

Author: 彭博(美國)





“我們很高興看到項目有所進展,特別是在當前世界主要銀行被迫停止資助煤電站項目的背景下,”負責該項目的津巴布韋RioZim 能源有限公司的董事長Caleb Dengu 在回答提問時說道。 “這是中國致力於非洲發展項目明證。中國有意進行合作。”……



獨立研究機構能源與清潔空氣研究中心的首席分析師Lauri Myllyvirta說,“雖然承諾轉向支持綠色和低碳能源,中國銀行還是繼續資助煤電項目”……

中國國有企業中國電力建設集團有限公司(PowerChina)簽署了一份施工合同,承建Sengwa火電廠一期工程……RioZim 能源有限公司的董事長Dengu透露,中國工商銀行已正式表達了對該項目的興趣,並正在與中國出口信用保險公司(Sinosure)談判,以支付國家風險保險成本。


Dengu還表示,承建火電廠其餘工程階段的合同已在上個月簽署,擬增加發電量2100兆瓦,預計耗資30億美元。中國國有企業中國葛洲壩集團公司(China Gezhouba Group)將開發該項目,並協助融資。該公司對要求其就此事發表評論的電話和郵件均無答复……


[文章提及力拓集團(Rio Tinto Group),RioZim 能源有限公司,通用電氣公司(General Electric Co.),黑石集團(Blackstone Group LP),摩根士丹利(Morgan Stanley)和花旗集團(Citigroup Inc .)]

Read the full post here