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China pledges $42.5b to support clean use of coal
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The loans would support cleaner methods of using coal, such as smart mining.
PHOTO: REUTERS
Peng Qinqin and Denise Jia
BEIJING (CAIXIN GLOBAL) - China will establish a special re-lending facility of 200 billion yuan (S$42.5 billion) to support the clean use of coal, the country's Cabinet said on Wednesday (Nov 17).
The move follows a carbon-reduction support tool launched last week by the central bank to help businesses reduce emissions of climate change-causing carbon dioxide, showing that the world's largest greenhouse gas emitter is moving to reduce reliance on coal while trying to achieve its long-term carbon neutrality goals.
