China’s no new coal power overseas pledge, one year on

(China Dialogue, London (Beijing?), 22 September 2020) Reform of investment and financing models still needed in order to better support green transitions. On 21 September 2021, China’s president, Xi Jinping, told the UN General Assembly via video link that China would increase support for green and low-carbon energy in developing countries, and not build any new coal-fired power projects overseas. China has been a major builder of coal power plants around the world, often providing both the finance and the technology. The Exim Bank of China, the China Development Bank (CDB) and the China Export and Credit Insurance Corporation (Sinosure) are the main state-owned financial institutions funding overseas projects, and as such have been quick to respond to the change in government policy. Exim Bank has successfully issued 3 billion yuan (US$425 million) in green bonds earmarked for clean energy investment. The Green Belt and Road Initiative Center provides research, analyses and information on the policies, economics, environment, sustainability and green finance of the Belt and Road Initiative (BRI) - also known as Silk Road Initiative. The Green BRI Center is part of the International Institute for Green Finance (IIGF) of the Central University of Finance and Economics (CUFE) in Beijing.