Emissions from China-invested overseas coal plants equal to whole of Spain – research
Approximately 245 million metric tons of carbon dioxide are now being released from China-invested power plants overseas each year; this is about the same amount of CO2 as is released by the energy-related facilities in Spain or Thailand each year, according to new research on Tuesday.
In the past two years, China has financed a total of 171.6 GW of overseas power generation capacity from government-run investment banks and Chinese companies, which total 648 plants in 92 countries and have already made 113.5 GW of these plants operational. A study conducted by Boston University’s Global Development Policy Center (GDPC) has found that.
About half of that total capacity is fossil-fuel related, and the pipeline of projects could add another 100 million tonnes of annual CO2 emissions if they are all completed, said Cecilia Springer, a researcher at the centre.
“Despite the fact that China has committed to a more vigorous support for renewable energy, such as wind and solar power in developing countries, its overseas power portfolio still relies heavily on coal and large-scale hydro generation. This indicates that China can do more to implement its pledge to support renewable energy in developing countries.” she said.
A recent report by Boston University found that the majority of the Chinese-financed generation capacity in the planning stage will use low-carbon energy sources, an indication that the recent pledge to end overseas coal financing is having an effect on the project.
A statement by Chinese President Xi Jinping was delivered to the United Nations General Assembly last year declaring that the Chinese government would stop investing in overseas coal-fired power plants as part of its commitment to combat climate change, a move that is estimated to require an investment of over $50 billion.
Some overseas projects were immediately canceled as a result of it, while others remained in a “gray area” and could still be implemented, according to experts.
It should be noted that China is both the world’s largest emitter of greenhouse gases, along with its largest coal consumer.
Source- Reuters
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