Last week, China’s President Xi Jinping pledged that his country would achieve carbon neutrality by 2060. This marks Beijing’s first public vow to slash carbon emission to zero. However, such a promise met cautious applause as China has yet to provide details on such plans, and it continues to support coal projects to rev up the virus-hit economy.
San Francisco-based environmental NGO Global Energy Monitor (GEM) said China approved 23 GW new coal power projects in this year’s first half, more than the last two years combined. The country opens taps from state lenders to construct new coal plants to stimulate faltering provincial economies. According to GEM, China’s coal-fired capacity has already exceeded what is required to meet peak demand by 400 GW.
Coal has been fueling China’s economic expansion in the last three decades. The country is the world’s largest coal user, burning roughly half the coal used worldwide each year. Its yearly carbon emissions nearly tripled over 2000 through 2018. It now accounts for more than 30% of global total greenhouse gases. On the other hand, China is the global leader in renewable investment. It is the world’s top producer and user of electric cars, wind turbines, and photovoltaic solar panels. Two thirds of the entire solar cells installed globally are made in China.
However, China uses Soviet-style power distribution system, where suppliers are allocated a monthly supply quota. This prompts local governments to increase allocation for coal-based power in the last few years due to fears of losing mining jobs. As a result, renewable energy has limited rooms in the grid. GEM reported that wind and solar plants had been idled, while dozens of new renewable projects have been shelved since late 2019 as small private operators struggle to generate profits.
China’s new coal capacities are expected to hinder the country’s climate goals. Policymakers said the new capacities would replace old plants with outdated emissions standards. However, the new chimneys can only save 11% of CO2 every kWh of power generated. At the same time, Beijing’s Belt and Road Initiative has funded the construction of new coal plants in developing countries such as Pakistan and Zimbabwe.
