Thu. Oct 21st, 2021
From <a href=""Zero Hedge

China’s Xi Jinping Promises No New Coal Plants Abroad As It Ramps Up Domestic Production

Chinese leader Xi Jinping pledged at the United Nations General Assembly meeting on Tuesday to halt the construction of coal-fired power plants abroad. 

“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 in a prerecorded video. The announcement comes one year after he said China is on a path to reach carbon-neutral by 2060

Xi provided no timetable for ending overseas coal-fired power projects and didn’t address China’s increasing need to fire up domestic coal and fossil fuel power plants. 

Watch part of Xi’s speech here:

While China could hinder future coal development across Belt and Road Initiative countries, domestic coal consumption continues to boom at home amid increasing power demand. 

Last month, China announced it would restart dozens of coal mines in the Inner Mongolia region and may produce as much as 44 million tons of coal, satisfying the growing calls for power amid the pick up in industrial activity this year. 

The news of Xi’s support for emerging market countries in developing green and low-carbon energy contradicts what’s happening in Mainland China. 

Remember when China promised to hit peak carbon emissions in 2030 and reach carbon neutrality in 2060? Maybe it will (spoiler alert: it won’t)…

… but long before 2060, China plans on taking coal-based pollution on a domestic level to new heights to satisfy power demand

Renewable energy has grown significantly in China, though coal power is cheap and will remain king and is expected to continue growing. 

Tyler Durden
Wed, 09/22/2021 – 19:00
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