Bank of China pledges to end funding for foreign coal mining and power plants | South China Morning Post

The Bank of China has said it will no longer provide financing for new coal mining and coal-fired power projects overseas from next month. It is the first of the four Chinese state-owned commercial banks to make such a commitment after President Xi Jinping told the United Nations General Assembly this week that China would stop building coal-fired power plants abroad . The bank is also one of the biggest bankers of coal mining and coal power companies, according to the Banking on Climate Change 2020 report. It said in a statement that it had recently drawn up an action…