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China Needs to Kick its Coal Habit at Home, Too
MARKETS | HEARD ON THE STREET
China Needs to Kick its Coal Habit at Home, Too
Xi Jinping’s pledge to cease financing coal plants abroad is good for the environment and makes business sense, too. But progress at home is the real key.
By Jacky Wong
https://twitter.com/jackycwong
jacky.wong@wsj.com
Updated Sept. 24, 2021 6:07 am ET
China’s pledge to stop financing coal-fired power plants abroad is a welcome move, though the elephant in the room—a very large, sooty one—is at home.
Chinese President Xi Jinping made the commitment this week in a speech at the United Nations General Assembly, though he provided no details or timeline. The announcement is significant given that China has been the largest cross-border financier for coal-fired power plants. According to climate group Global Energy Monitor, China is funding 44 projects with a total capacity of 42 gigawatts, including plants in countries such as Bangladesh and Vietnam.
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China Needs to Kick its Coal Habit at Home, Too
Xi Jinping’s pledge to cease financing coal plants abroad is good for the environment and makes business sense, too. But progress at home is the real key.
By Jacky Wong
https://twitter.com/jackycwong
jacky.wong@wsj.com
Updated Sept. 24, 2021 6:07 am ET
China’s pledge to stop financing coal-fired power plants abroad is a welcome move, though the elephant in the room—a very large, sooty one—is at home.
Chinese President Xi Jinping made the commitment this week in a speech at the United Nations General Assembly, though he provided no details or timeline. The announcement is significant given that China has been the largest cross-border financier for coal-fired power plants. According to climate group Global Energy Monitor, China is funding 44 projects with a total capacity of 42 gigawatts, including plants in countries such as Bangladesh and Vietnam.
Create Your Free Account or Sign in to Continue Reading WSJ