China pledges $42.5b towards efforts on clean use of coal

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.

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.