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

Topic |   China economy
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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