China continues to fund coal plants in Europe, violating UN climate change pledges

Dec 18 2021 13:32 STI

Beijing [China], Dec. 18 (ANI): China-funded coal-fired power plants in Bosnia and Herzegovina continue to thrive despite President Xi Jinping’s pledge to the United Nations General Assembly last September to stop funding the construction of new power plants in coal abroad.
Recently, the climate summit aimed at securing the global climate and phasing out coal was held in Glasgow and China and the United States also agreed to strengthen climate cooperation over the next decade, but in a way Surprisingly, it was discovered that Chinese President Xi Jinping is still funding coal-fired power plants in Bosnia and Herzegovina, according to the Financial Post.
Previously, energy geopolitics has always been a brutal game for China. This is not the first time that China has made empty promises.

As an example, the ground for the new Ugljevik III station in the Baltic nation has already been prepared and these plants are financed by the Chinese Bank. Moreover, it may sound shocking, but Ugljevik is not just the European city in which power plants are going to be built, according to the Financial Post.
In addition, there is a major risk that China-funded power plants will be built in Indonesia, the Philippines and Serbia as well and all of these projects have an estimated total capacity of over 3,645 MW, raising concerns about the future. climate change, according to the report.
On the other hand, coal has always remained at the heart of China’s booming economy. In 2019 58% of the country’s total energy commission came from coal and it accounted for 28% of all global CO2 emissions and even in 2020, China bought 38.4 gigawatts of new coal-fired electricity to put it into use. .
Data collected by Kevin Gallagher, who ran the Boston University Center from 2013 to 2019 shows that China was funding 13% of coal-fired power plants built abroad.
It’s also clear that China is juggling issues of energy security and economic growth, and it seems ironic when China makes promises of carbon neutrality by 2060. Such a promise requires huge commitment and none of it does. is easy for China, according to the Financial Post. (ANI)

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