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The Chinese President remotely addresses the 76th session of the
UNGA at UN headquarters in a pre-recorded message, September 21,
2021. (AP: UN Web TV)
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Key Points
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Mr Xi made his announcement at the UN General Assembly where US President Joe Biden, seeking to show leadership in a growing competition with China, promised to double Washington's contribution to countries hardest hit by climate change.
China is still investing in coal, reducing the impact of Mr Xi's commitment, but it is by far the largest funder of coal projects in developing countries such as Indonesia, Vietnam and Bangladesh as it goes on a global infrastructure-building blitz with its Belt and Road Initiative.
Mr Xi has vowed to accelerate efforts for China, the world's largest emitter, to go carbon neutral by 2060.
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The State Bank of China has been accused by activists of being the
largest financier of coal projects worldwide.
(Reuters: Stringer/File photo)
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"China will step up support for other developing countries in developing green and low-carbon energy and will not build new coal-fired power projects abroad," Mr Xi said.US climate envoy John Kerry responded to China's pledge not to build coal power plants abroad, saying he is "absolutely delighted" by the move.
China's announcement follows similar moves by South Korea and Japan, the only other nations that offered significant funds for coal projects.
Helen Mountford, vice-president for climate and economics at the World Resources Institute, said it was "a historic turning point away from the world's dirtiest fossil fuel."
"China's pledge shows that the firehose of international public financing for coal is being turned off," she said.
China brought 38.4 gigawatts of new coal-fired power into operation last year — more than three times what was brought on line globally.
Non-governmental groups in a letter earlier this year said the state-run Bank of China was the largest single financier of coal projects, pumping in $US35 billion ($48.2 billion) since the Paris climate agreement was signed in 2015.
Biden doubles US support for climate-affected countries
China's promise comes as momentum builds ahead of a UN conference in November in Glasgow which aims to raise the ambitions of the Paris accord.
Support for action has been growing with the planet breaking record after record on high temperatures and witnessing devastating severe weather linked to climate change, including fires, severe storms and flooding.
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President Joe Biden addresses the 76th Session of the UN General Assembly at UN headquarters in New York, September
21, 2021. (AP: Eduardo Munoz/Pool)
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Mr Biden, who has put the environment high on his agenda after defeating his predecessor, climate change sceptic Donald Trump, said the United States would double its contribution.
"This will make the United States a leader in public climate finance," Mr Biden said.Experts said that the announcement would take the American contribution to approximately $US11.4 billion ($15.7 billion) annually.
UN Secretary-General Antonio Guterres said he was "encouraged" by the "important" US and Chinese announcements but warned that far more needed to be done to address climate change.
Last week Mr Guterres warned the world was on a "catastrophic" path to 2.7 degrees Celsius heating according to a new study by UN scientists.
The figure would shatter the temperature targets of the Paris climate agreement, which aimed for warming well below 2C and preferably capped at 1.5C above pre-industrial levels.
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