Once the biggest coal power investor, China is moving away from fossil fuel.
Photo from CFP
By XI Jinghua
China will stop building new coal-burning power plants overseas, Chinese president XI Jinping told United Nations General Assembly on September 21.
One of the biggest investors in coal power around the world, 95 percent of foreign capital invested in these plants around the world comes from China, along with Korea and Japan.
Chinese-built plants are mostly located in South Asia, particularly Bangladesh and Pakistan. The plants meet an immediate need for power but put more pressure on the climate.
ZENG Ming from North China Electric Power University said suspending new overseas coal power plants won’t harm China and will help other countries to build cleaner power systems.
“China is a leader in new energy technology,” said Zeng. Chinese photovoltaic products occupy a large market share overseas.
YUAN Jiahai, also from NCPEU said it was an opportunity for China to share its technology and set a good example in the battle against climate change.
Domestically, China is also adjusting its power structure. China expects to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Statistics from Greenpeace suggest that the installed capacity of coal-burning power plants in the first half of 2021 was 5.2 gigawatts, 79 percent down from the year before.