Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

China cranks up carbon-intensive projects as climate crisis grows, research shows

CommoditiesAug 13, 2021 03:16AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: A coal-burning power plant can be seen behind a factory in the city of Baotou, in China's Inner Mongolia Autonomous Region, October 31, 2010. REUTERS/David Gray/ 2/2

By David Stanway

SHANGHAI (Reuters) - China announced scores of new carbon-intensive coal and steel projects in the first half of 2021, research showed on Friday just days after a key U.N. report urged immediate global action to curb use of fossil fuels and prevent runaway climate change.

The push comes as climate experts exhort governments around the world to take drastic action amid increasingly widespread extreme weather events, like deadly wildfires, drought and even central China's highest rainfall in 1,000 years https://www.reuters.com/world/china/zhengzhou-floods-serve-chinas-urban-planners-deadly-warning-2021-07-23 - events that experts say are directly linked to human impact on the environment via carbon emissions.

"The rest of the world is getting the message https://www.reuters.com/business/environment/what-they-said-about-code-red-un-climate-science-report-2021-08-09 that it's time to move away from coal, but coal interests in China are dragging their feet, and the central government is not reining them in," said Christine Shearer, coal programme director at Global Energy Monitor (GEM), the U.S. think-tank that jointly authored the report on China's first-half carbon projects with the Helsinki-based Centre for Research on Energy and Clean Air (CREA).

During the first half, China, the world's biggest coal consumer and source of climate-warming greenhouse gases, announced plans to build 18 new coal-fired blast furnaces, more than in the whole of last year, according to the CREA-GEM research. Another 43 coal-fired power plant units were also proposed, the research showed.

China has promised to cut carbon emissions to net zero by 2060, but faces growing calls to set more ambitious targets and act faster.

The United Nations' Intergovernmental Panel on Climate Change (IPCC) warned in a nearly 4,000-page report this week that climate change had "affected every inhabited region across the globe" and was in danger of spiralling out of control.

U.N. Secretary General Antonio Guterres described the report as a "code red for humanity" that should "sound a death knell for coal and fossil fuels".

However, according to the CREA-GEM study, China started construction on 15 gigawatts (GW) of new coal-fired power capacity in the first half. That's a slower pace than last year, but still amounts to one plant per week, and is enough to power roughly 4.5 million homes - more than in cities the size of London or New York.

"GLACIAL PACE OF CHANGE"

China's greenhouse gas emissions surged after COVID-19 lockdowns ended last year, and growth rates only started to slow in the second quarter this year, the CREA-GEM study said.

Lauri Myllivirta, CREA lead analyst,said though China was currently trying to curb property lending that stokes the construction of new homes, a key factor in recent emissions growth, the continuing investment in coal-based power and steel was "worrying".

"This is where a much faster shift is needed, and current glacial pace of change is not in line with the urgency of peaking global emissions," he said.

China has not yet commented on the IPCC report, and has previously said it would only start cutting coal consumption from 2026.

Xie Zhenhua, China's top climate envoy, said last week that existing targets already required "extremely arduous efforts", with the country's total emissions set to peak in 2030 at a lower per capita rate than the United States, Japan or Europe.

China cranks up carbon-intensive projects as climate crisis grows, research shows
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email