China's End of Coal Financing Beyond Its Borders Continues a Trend

President Xi Jinping’s announcement at the UN General Assembly that China will no longer invest in coal power plants beyond its borders is expected to affect at least 50 GW of proposed China-backed coal plants. Already in 2019, expensive and unreliable “renewable” energy investment made up 38% of Chinese financial support for foreign power investment. In 2020, that figure had increased to 57%, according to coverage by the Conversation news agency on Sept. 28.