In Landmark Climate Pledge, China Promises To End Coal Funding Overseas
NDTV
Xi Jinping made his announcement at the UN General Assembly where US President Joe Biden promised to double Washington's contribution to countries hardest hit by climate change.
China will stop funding coal projects overseas, President Xi Jinping announced Tuesday, all but ending the flow of public aid for the dirty energy contributing to the climate crisis.
Xi made his announcement at the UN General Assembly where US President Joe Biden, seeking to show leadership in growing competition with China, promised to double Washington's contribution to countries hardest hit by climate change.
China is still investing in coal, reducing the impact of Xi's commitment, but it is by far the largest funder of coal projects in developing countries such as Indonesia, Vietnam, and Bangladesh as it goes on a global infrastructure-building blitz with its Belt and Road Initiative.
Xi vowed to accelerate efforts for China, the world's largest emitter, to go carbon neutral by 2060.
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