Fossil fuels produce round half of the power from abroad Chinese language-backed energy vegetation, new examine exhibits.
Carbon dioxide emissions from China-invested energy vegetation abroad now stand at an estimated 245m tonnes per yr, about the identical because the annual energy-related CO2 emissions from international locations the dimensions of Spain or Thailand, new analysis exhibits.
Chinese language firms and government-run funding banks have financed a complete of 171.6 gigawatts of abroad energy technology capability, representing a complete of 648 energy vegetation in 92 international locations, new analysis from Boston College’s World Growth Coverage Heart confirmed on Tuesday.
“Whereas China has taken steps to decarbonize its abroad investments … extra might be achieved to decarbonize China’s international energy, together with a selected give attention to decarbonizing Asia, the place essentially the most producing capability is financed by China and over 50 % is coal-based,” the centre mentioned in its report.
About half of that complete capability of Chinese language-backed energy technology abroad is fossil-fuel associated, and the pipeline of initiatives may add one other 100m tonnes of annual CO2 emissions if they’re all accomplished, mentioned Cecilia Springer, a researcher on the Boston College analysis centre.
“China’s abroad energy portfolio remains to be dominated by coal and large-scale hydropower, indicating that China can do extra to implement its pledge to step up help for inexperienced and low-carbon power in growing international locations — particularly wind and solar energy,” she mentioned.
President Xi Jinping instructed the United Nations Normal Meeting final yr that China would cease investing in abroad coal-fired energy vegetation as a part of its dedication to fight local weather change, a transfer estimated to contain about $50bn in funding.
Xi’s pledge led to the fast cancellation of a number of abroad initiatives, although some remained in a “gray space” and will nonetheless go forward, specialists mentioned.
China is the world’s greatest greenhouse fuel emitter in addition to its largest coal client.
The vast majority of the China-financed abroad energy technology capability now within the strategy planning stage will make use of low-carbon power sources, the Boston College analysis mentioned, indicating {that a} current pledge to finish abroad coal financing is having an impact.
