Bank of China to stop financing new coal mining, power projects overseas – Chinadaily.com.cn

A man speaks on the phone outside the Bank of China head office building in Beijing, China. [Photo/Agencies] Bank of China has committed to no longer provide financing for new coal mining and coal-fired power projects overseas, starting from the fourth quarter of this year, except for the projects whose contracts the bank has already signed. The Beijing-based large State-owned commercial lender announced on Friday that it recently drew an action plan to serve China in terms of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060. In this way, the bank has created a roadmap for the…