China continues to fund coal-fired power plants in Europe, violating its UN climate change promises

0


China-funded coal-fired power plants in Bosnia and Herzegovina continue to thrive, despite President Xi Jinping promising the United Nations General Assembly in September this year not to fund the construction of new coal-fired power plants abroad. The climate summit to secure the global climate and phase out coal was recently held in Glasgow, and both China and the US have agreed to strengthen climate cooperation for the next decade, but surprisingly, it turns out that Chinese President Xi Jinping is still funding coal-fired power plants in Bosnia and Herzegovina., so Financial Post.

Energy geopolitics used to be a brutal game for China. It wasn’t the first time China has made empty promises. For example, the ground for the new Ugljevik III station in the Baltic States has already been prepared and these power plants are being financed by the Chinese bank. It may be shocking, but Ugljevik isn’t just the European city where the power plants are being built, according to the Financial Post.

In addition, there is a huge risk that Chinese-funded power plants will also be built in Indonesia, the Philippines and Serbia, and all of these projects have an estimated total capacity of over 3,645 MW, which is causing climate change concerns, the report says. On the other hand, coal has always remained at the heart of the thriving Chinese economy. In 2019, 58 percent of the country’s total energy commissions came from coal and they accounted for 28 percent of all global CO2 emissions, and even in 2020, China bought 38.4 gigawatts of new coal-fired power on-line.

Data from Kevin Gallagher, who heads the Boston University center from 2013 to 2019, shows that China funds 13 percent of coal-fired power plants built abroad. It’s also clear that China is juggling energy security and economic growth concerns, and it seems ironic if China promises to be carbon neutral by 2060. (ANI)

(This story was not edited by Devdiscourse staff and is automatically generated from a syndicated feed.)


Share.

Comments are closed.