China’s promise to end constructing coal plants overseas improves Belt and Road’s repute, says Asian Infrastructure Investment Bank

China’s promise to end constructing coal plants overseas improves Belt and Road’s repute, says Asian Infrastructure Investment Bank

China’s promise in order to stop developing the latest coal-fired power projects abroad can enhance the repute. This is of its massive Belt and Road Plan, says the president of the Asian Infrastructure Investment Bank.

Chinese President Xi Jinping makes the promise on coal on Tuesday at the United Nations General Assembly. He says China will assist other emerging nations in order to move toward green and low-carbon energy. However, did not offer additional details.

“I believe this is very much valuable policy plan taken by China,” Jin Liqun, president of AIIB, says “Squawk Box Asia” on Thursday.

“It can boost the repute of the Belt [and] Road Plan,” he adds.

Jin says Beijing has been wrestling with how in order to balance demand from other nations for coal-fired power plants with its climate commitments. Xi says last year that China intends in order to become carbon neutral by 2060.

“Now, I believe the judgment is made,” he says. “The next step is for China to do its highest in order to export renewable technology to these low-income nations.”

The Belt and Road Plan or BRI is an aspiring program in order to create physical and digital infrastructure linking hundreds of nations from –
  • Asia
  • Middle East
  • Africa
  • Europe

The U.S. and many nations have decried the BRI for funding developing projects — especially those including coal — that harm the environment.

Burning coal creates a huge amount of carbon emissions, and nations such as follows have formerly says they will stop funding overseas coal power projects –
  • Japan
  • South Korea

Coal projects were a constant feature of the BRI in the past few years. In 2015, coal reports for 46% of China’s energy investments through the BRI. This is as per the International Institute for Green Finance, a Beijing-based think tank.

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