IN A SPEECH by video-link, Xi Jinping, China’s president, told the UN on September 21st that his country would stop supporting new coal-power projects overseas. Since 2013, 95% of the funding for coal-fired power plants that came from outside the countries where the plants are located has come from China, Japan and South Korea. In April South Korea vowed to end state-backed financing of coal plants abroad; in June Japan pledged to do the same. Climate campaigners are celebrating China’s decision to follow suit.By some estimates, 70% of all coal plants being built today rely to some degree on China’ …
