China finds coal a hard habit to break as power plants, steel mills stall pledges to scale back

Feb 24, 2022 | INVESTING

China’s power producers and steel mills continue to invest in coal-based production capacity at alarming rates, showing no signs of scaling back despite the country’s pledge to reach carbon neutrality by 2060, a study showed.China started building 33 gigawatts (GW) of coal-fired power producing capacity in 2021, almost triple the world’s combined capacity, according to the Centre for Research on Energy and Clean Air (CREA) in Helsinki and the Global Energy Monitor (GEM) in San Francisco.Steel…

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