China remains the primary global backer of coal power, and the nation’s overseas coal financing remains extremely demand-driven in the face of environmental concerns. Photo: AFP
China remains the primary global backer of coal power, and the nation’s overseas coal financing remains extremely demand-driven in the face of environmental concerns. Photo: AFP

China slow to curb coal financing as Japan, South Korea ‘accept new reality’ on phasing out fossil fuels

  • Japan and South Korea recently made moves to limit financial backing for overseas coal projects, joining a trend of banks and multilateral lenders ditching the fossil fuel
  • As the largest global financier of coal energy, China is increasingly looking like the lender of last resort

China remains the primary global backer of coal power, and the nation’s overseas coal financing remains extremely demand-driven in the face of environmental concerns. Photo: AFP
China remains the primary global backer of coal power, and the nation’s overseas coal financing remains extremely demand-driven in the face of environmental concerns. Photo: AFP
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