China’s new pledge on coal helps the reputation of Belt and Road Initiative, development bank says
. He said China will support other developing countries to move toward to green and low-carbon energy, but did not provide further details.
"I think this is very much [an] important policy initiative taken by China," Jin Liqun, president of AIIB, told CNBC'sJin said Beijing has been grappling with how to balance demand from other countries for coal-fired power plants with its climate commitments. Xi said last year that China aims to become"Now, I think the decision is made," he said. "The next step is for China to do its utmost to export renewable technology to these low-income countries.
The Belt and Road Initiative or BRI is an ambitious program to build physical and digital infrastructure connecting hundreds of countries from Asia to the Middle East, Africa and Europe. The U.S. and many countries havefor financing building projects — particularly those involving coal — that harm the environment.
Burning coal produces a large amount of carbon emissions, and countries such as Japan and South Korea have previously said they will stop funding overseas coal power projects.of the BRI in the last few years. In 2015, coal accounted for 46% of China's energy investments through the BRI, according to the International Institute for Green Finance, a Beijing-based think tank.
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