China is already moving away from funding it anyway. Plus, its coal-burning at home matters far more
By some estimates, 70% of all coal plants being built today rely to some degree on China’s cash. Cutting off this source will hobble the building and operation of such projects in poor countries, where demand for power is often difficult to meet without foreign help. But by mentioning only overseas coal, Mr Xi glossed over China’s own dependence on the stuff. Last year, the country’s power plants produced over half the world’s coal-generated electricity.
However, the gesture is at least a sign that China does not want to be seen as a spoiler of global climate-change efforts. John Kerry, President Joe Biden’s climate envoy, had been urging China to make a pledge of this kind. But China had warned that climate-change co-operation with America could be jeopardised by tension in the two countries’ relationship.
Many analysts argue that China could, with effort, achieve an emissions peak in 2025. But Li Shuo, an analyst for Greenpeace, an environmental, says China is unlikely to make a formal commitment to this effect. It would require shutting down many coal plants and overhauling the current five-year economic plan, which took effect this year.20 summit in July gave a flavour of things to come. Italy presided over the event and was keen to extract a commitment to phase out coal power.
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