New York, 23 September 2021 (TDI): Chinese President Xi Jinping vowed at the United Nations General Assembly (UNGA) not to build coal-related power projects, in order to make a deal with climate change. This step would ultimately minimize the finance of coal-fired projects in developing countries.
China took this decision to cut their overseas coal-fired projects to achieve the Paris Climate Agreement-related goals. The goal of the agreement is to minimize the carbon emissions in the world. Earlier this year, the same moves were initiated by Japan and South Korea, and China also followed the suit.
“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 at the official UNGA’s 76th session through his pre-recorded video message and expressed China’s clear intentions in the international arena.
Kerry called it a great contribution by Xi Jinping to achieve success in climate change. This move by the Chinese government would affect 44 coal-fired plants reserved for Chinese nation financing, totaling 50 US billion dollars.
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