onsdag 22. september 2021

China ‘Betting on a low-carbon future’: why China is ending foreign coal investment

The pledge by China’s president, Xi Jinping, on Tuesday to cease building new coal-fired power projects outside the country will be welcome news to environmentalists around the world. It came on the anniversary of Xi’s unilateral pledge for China to reach carbon neutrality by 2060. Last year Xi also promised that Chinese emissions would peak by 2030.

“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 a pre-recorded video address at the annual UN general assembly.

Xi is personally invested in the climate agenda. Since he came to power in 2012, Beijing has been taking more visible steps in tackling its own environmental problems such as pollution. It has been extending its influence abroad, too, by joining international initiatives such as the 2015 Paris climate agreement – a pledge that Donald Trump pulled the US out of four years ago but which Joe Biden has rejoined. And unlike in some countries, there is consensus among China’s political elite that the climate crisis is real.