China’s carbon reduction target looks elusive as banks keep throwing cash at coal mines and power plants, undercutting Xi Jinping’s plan to slash fossil fuels

  • China commissioned 38.4 gigawatts (GW) of coal plants in 2020, three times the 11.9GW fired up by the rest of the world
  • 60 of the world’s largest banks lent or underwrote US$752 billion of debt or equity issuances to the fossil fuel industry last year

Topic |   China’s climate change battle
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