Bank of China pledges to end funding for foreign coal mining and power plants

Source: China – South China Morning PostThe 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…Read More

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