Chinese President Xi Jinping has vowed to stop funding coal projects overseas as he announced ambitious goals at the UN General Assembly.&nbsp;

"We need to improve the global environmental governance. We need to actively respond to climate change and create a community of life for man and nature," the Chinese president said.

However, President Xi provided no details on how the policy will be implemented.

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"We should focus on developing green and low carbon energy and we should not build new coal-fired power projects abroad," he said.

The move could significantly limit the financing of coal plants in the developing world. China is the world's largest consumer of coal and the world's biggest polluter.&nbsp;

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"China will strive to peak CO2 emissions before 2030 and achieve carbon neutrality by 2060," the Chinese president promised.

China had reportedly brought 38.4 gigawatts of new coal-fired power into operation last year which was over three times what was brought globally.

China's overall consumption of coal increased by 0.6 per cent in 2020 from a year earlier to around 4.04 billion tonnes.&nbsp;

Watch: Ebrahim Raisi slams the United States in maiden UNGA address&nbsp;

According to China's National Coal Association, the country's coal consumption is expected to rise in 2021 despite Beijing's previous pledges to cut down on greenhouse gas emissions.

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In a letter earlier this year, a coalition of non-governmental groups had said that the state-run Bank of China was the largest single financier of coal projects pumping $35 billion since the Paris climate agreement was signed in 2015.

President Xi's announcement came after South Korea and Japan made similar moves earlier this year.&nbsp;UN secretary-general Antonio Guterres and US climate envoy John Kerry had urged China to follow the lead of its Asian counterparts.

The Chinese president also urged global cooperation to meet the challenges of climate change and the COVID-19 pandemic.

(With inputs from Agencies)

Chinese President Xi Jinping has vowed to stop funding coal projects overseas as he announced ambitious goals at the UN General Assembly. "We need to improve the global environmental governance.

Chinese President Xi Jinping has vowed to stop funding coal projects overseas as he announced ambitious goals at the UN General Assembly. "We need to improve the global environmental governance. We need to actively respond to climate change and create a community of life for man and nature," the Chinese president said. However, President Xi provided no details on how the policy will be implemented. Also Read: At UNGA, President Biden says ended Afghan war to enter new era of diplomacy "We should focus on developing green and low carbon energy and we should not build new coal-fired power projects abroad," he said. The move could significantly limit the financing of coal plants in the developing world. China is the world's largest consumer of coal and the world's biggest polluter. Also Read: Taliban want to address UN General Assembly, appoint new envoy "China will strive to peak CO2 emissions before 2030 and achieve carbon neutrality by 2060," the Chinese president promised. China had reportedly brought 38.4 gigawatts of new coal-fired power into operation last year which was over three times what was brought globally. China's overall consumption of coal increased by 0.6 per cent in 2020 from a year earlier to around 4.04 billion tonnes. Watch: Ebrahim Raisi slams the United States in maiden UNGA address According to China's National Coal Association, the country's coal consumption is expected to rise in 2021 despite Beijing's previous pledges to cut down on greenhouse gas emissions. Also Read: On UNGA sidelines, Jaishankar discusses Afghanistan, Indo-Pacific In a letter earlier this year, a coalition of non-governmental groups had said that the state-run Bank of China was the largest single financier of coal projects pumping $35 billion since the Paris climate agreement was signed in 2015. President Xi's announcement came after South Korea and Japan made similar moves earlier this year. UN secretary-general Antonio Guterres and US climate envoy John Kerry had urged China to follow the lead of its Asian counterparts. The Chinese president also urged global cooperation to meet the challenges of climate change and the COVID-19 pandemic. (With inputs from Agencies)

Chinese President Xi vows to stop funding coal projects overseas at UNGA

China&nbsp;needs to halve carbon dioxide emissions from its coal-fired power plants by the end of the decade if it is to remain on course to become carbon neutral by 2060, according to research published on Thursday.

To half emissions, the world's biggest producer of climate-warming greenhouse gas must shut, retrofit or put into reserve capacity as much as 364 gigawatts (GW) of coal-fired power by 2030,&nbsp;around a third of its current total, according to London-based climate data provider TransitionZero.

The research used satellite imagery and machine learning to estimate carbon emissions from&nbsp;China's coal-fired plants.

It also estimated that&nbsp;China&nbsp;could save $1.6 trillion by replacing the majority of its coal-fired power plants with clean alternatives.

"Independent of climate considerations, our analysis finds&nbsp;China&nbsp;could save money, reduce stranded assets and improve its international reputation by replacing coal plants with zero-carbon alternatives," said Matthew Gray, co-chief executive of TransitionZero.

Experts and campaigners have said that&nbsp;China&nbsp;should immediately halt all new coal plant approvals in order to meet climate goals.

However, the country said in its 2021-2025 five-year plan published in March that it would continue to promote the "clean and efficient use of coal".

According to research published by the Global Energy Monitor and other energy think tanks last week, a recent boom in coal-fired power construction in&nbsp;China&nbsp;is offsetting the cuts made in the rest of the world.

China&nbsp;completed 38.4 GW of new capacity in 2020, higher than the 37.8 GW of coal plants that were retired globally. It commissioned 76 per cent&nbsp;of the world's new coal plants last year, up from 64 per cent&nbsp;in 2019, according to a report by TransitionZero.

(With input from agencies)

China needs to halve carbon dioxide emissions from its coal-fired power plants by the end of the decade if it is to remain on course to become carbon neutral by 2060, according to research published on Thursday.

China needs to halve carbon dioxide emissions from its coal-fired power plants by the end of the decade if it is to remain on course to become carbon neutral by 2060, according to research published on Thursday. To half emissions, the world's biggest producer of climate-warming greenhouse gas must shut, retrofit or put into reserve capacity as much as 364 gigawatts (GW) of coal-fired power by 2030, around a third of its current total, according to London-based climate data provider TransitionZero. The research used satellite imagery and machine learning to estimate carbon emissions from China's coal-fired plants. It also estimated that China could save $1.6 trillion by replacing the majority of its coal-fired power plants with clean alternatives. "Independent of climate considerations, our analysis finds China could save money, reduce stranded assets and improve its international reputation by replacing coal plants with zero-carbon alternatives," said Matthew Gray, co-chief executive of TransitionZero. Experts and campaigners have said that China should immediately halt all new coal plant approvals in order to meet climate goals. However, the country said in its 2021-2025 five-year plan published in March that it would continue to promote the "clean and efficient use of coal". According to research published by the Global Energy Monitor and other energy think tanks last week, a recent boom in coal-fired power construction in China is offsetting the cuts made in the rest of the world. China completed 38.4 GW of new capacity in 2020, higher than the 37.8 GW of coal plants that were retired globally. It commissioned 76 per cent of the world's new coal plants last year, up from 64 per cent in 2019, according to a report by TransitionZero. (With input from agencies)

China needs to halve power sector emissions by 2030 to meet climate goals: Study

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