China scraps 67% of planned overseas coal after Xi pledge, report says

Five years after Chinese President Xi Jinping told the UN General Assembly that China would stop funding overseas coal power plants, a new report says Beijing has cancelled most of the coal capacity it had planned abroad in 2021. The report says 67 per cent of that planned capacity has been scrapped, offering a limited positive sign at a time when global climate commitments remain off track. At the same time, experts say the shift away from coal remains slow and uneven. They have warned that Chinese companies are using regulatory loopholes to keep investing in coal projects overseas, even…