China started building 33 gigawatts of new coal-fired power generation capacity last year, the most since 2016, research published on Thursday showed, a sign the country is falling back on fossil fuels as economic worries mount.
The newly added capacity under construction was three times more than the rest of the world combined, said Helsinki-based Centre for Research on Energy and Clean Air and U.S. think tank Global Energy Monitor .
CREA and GEM said, "There is no space for this new capacity to be utilised under the goals of the Paris Agreement", adding it could leave China with an additional $90 billion to $130 billion in stranded assets. "Along with the real estate slowdown, the pandemic and pandemic control measures and expected headwinds to exports are adding urgency to boosting the industrial and construction sectors, which are the most carbon-intensive part of the economy," said CREA lead analyst Lauri Myllyvirta.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Thank You, Jess:' NYC Firefighter, 33, Who Died Suddenly After Battling Blaze Mourned at Tearful Funeral'The pain of every holiday, every birthday, every moment, every time members from his stationhouse walk past the table that he created -- every time they hear the name 'Jesse' they relive the trauma ...' Mayor Adams said at his funeral.
Read more »
China vows to join fight against global plastic waste as UN talks loomChina will participate in international efforts to combat plastic pollution and build on its existing policies to cut waste, the environment ministry of the world's top producer said on Wednesday, a week before talks on a new global plastic pact.
Read more »
Bringing up a child costlier in China than in U.S., Japan - researchThe cost of raising a child in China stands at nearly seven times its per capita GDP, far more than in the United States and Japan, highlighting the challenges facing Chinese policymakers as they try to tackle rapidly declining birth rates, new research showed.
Read more »
China says Taiwan is 'not Ukraine' as island raises alert levelTaiwan is 'not Ukraine' and has always been an inalienable part of China, China's foreign ministry said on Wednesday, as Taiwan President Tsai Ing-wen called for the island to beef up vigilance on military activities in response to the crisis.
Read more »
China casts doubt on origin of rocket debris about to slam into the MoonIt still seems likely that the object is from China, though.
Read more »
US drops name of Trump's 'China Initiative' after criticismThe Justice Department is scrapping the name of a Trump-era initiative intended to crack down on economic espionage by Beijing but criticized as unfairly targeting Chinese professors at American colleges because of their ethnicity
Read more »