China's commitment to phase out overseas coal investment
In September 2021, Chinese President Xi Jinping pledged at the United Nations General Assembly (UNGA) that China would stop building new coal-fired power plants abroad, while increasing support for green and low-carbon energy infrastructure in developing countries.
According to Global Energy Monitor (GEM), a US-based think tank, the announcement could affect 44 coal-fired power plants earmarked for Chinese state financing worth a total of $50 billion. This has the potential to reduce future carbon dioxide emissions by 200 million tonnes a year...
"China's announcement is one of the most significant developments on the climate front this year, as it may well mark the end of international public financing for coal plants," said GEM…
Following this pledge, environmental groups and academics have been documenting how China and various Chinese actors, including financiers and businesses, are implementing this policy and supporting the transition to green energy. This page tracks China's progress and challenges in fulfilling its political commitment to green finance and overseas investment.