China makes progress in fight against climate change

Xi’s announcement signals the end of coal-fired power plant development outside China. Developing countries such as Vietnam and the Philippines, seen until recently as sources of future demand growth for coal, are now taking part in a program in which the Asian Development Bank will buy coal-fired plants with the sole purpose of shutting them down. At least as significant and somewhat more surprising has been a renewed commitment to limit the development of coal-fired power in China itself. The National Development and Reform Commission (NDRC), the Government’s central planning agency, has released a new plan on energy consumption that includes requiring all provinces to review already permitted high-emissions projects, including those under construction. Combined with the emissions trading market launched in July, this development suggests that Xi’s stated goal of reaching a peak in China’s coal consumption by 2026 may well be reached. China pushes for a cleaner climate China pushes for a cleaner climate Despite escalating tensions between nations, China is taking positive steps towards reaching net-zero carbon emission targets. The final development of the past week has been

Source: China makes progress in fight against climate change

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