China has been under heavy diplomatic pressure to put an end to its coal financing overseas because it could make it easier for the world to stay on course to meet the goals of the Paris climate agreement to reduce carbon emissions. “China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad,” Xi said in his pre-recorded video address at the annual UN gathering, in which he stressed China’s peaceful intentions in international relations.
The move follows similar announcements by South Korea and Japan earlier this year. Together, the three countries were responsible for more than 95% of all foreign financing for coal firepower plants, with China making up the bulk, Joanna Lewis, director of science, technology and international affairs at Georgetown University, told the BBC.
