China financed more than a quarter of all coal plants announced outside the country last year according to a new report, putting its clean energy image at risk as Chinese institutions fund coal-fired projects in emerging markets. Chinese institutions last year provided $36bn of financing for coal plants outside the country, 26 per cent of the 399 gigawatts of such plants planned or committed last year, according to a report published by the Institute for Energy Economics and Financial Analysis (IEEFA), a US-based non-profit. As development banks scale back or completely halt their investment in coal-backed energy projects, China has emerged as a chief lender for such power plants, putting its international policies at odds with its domestic agenda to cut coal use, reduce carbon emissions and boost consumption of renewable energy.
FT 22nd Jan 2019 read more »
