(Bloomberg) — Chinese firms and banks continue to support the expansion of coal power overseas, three years after President Xi Jinping promised to end the practice, according to new research.
Some 8.6 gigawatts of previously unannounced Chinese-backed coal-fired power plants have entered construction or the pre-permitting phase in the past year in places like Southeast Asia and Africa, the Centre for Research on Energy and Clean Air said in a report on Tuesday.
Xi’s announcement in September 2021 that China would stop building new coal-fired power projects abroad was thought to be a major step toward ending international funding for the dirtiest fossil fuel. While it has been successful in canceling about 43 gigawatts of new projects, another 26 gigawatts of plants underway at the time have already come online.
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