China has promised to end financing funds of overseas coal-fired power plants. This initiative will help nations of the world for developing green energy projects.
- The president of China declared to stop funding coal production outside the country to stop contributing to carbon emission worldwide.
- “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,” quoted President Xi Jinping at the UN general assembly this week.
- Movement workers are trying to reduce the usage of coal in power production to avoid climate change and acquire the green revolution that is SDG.
- The United States Special Presidential Envoy for Climate John Kerry appreciated this step taken by China Government and said, ‘I am delighted to hear that to hear that President Xi Jinping has taken such an important move.’
- Under the Belt and Road initiative China used to provide the fund on coal-based context to most other developing countries of the world. But in recent times China hasn’t given any financial cooperation to any of them that is rare in China’s history. In line with the pledge, China has taken will diverge 55% of new proposed coal-fired power projects worldwide.
- China stopping to provide funds for coal abroad has also been welcomed by the chair of the Cop26 climate change conference, British government minister Alok Sharma.
China has given word of honor that it will decrease the carbon emissions numbers by zero within the year 2060.