China will not build new coal-fired power projects abroad, says Xi Jinping at UNGA

"China will step up support for other developing countries in developing green and low-carbon energy, and will not build new coal-fired power projects abroad," said Xi Jinping.

United Nations: Chinese leader Xi Jinping said on Tuesday (September 21) that China would not build new coal-fired power projects abroad, using his address at the United Nations General Assembly to add to pledges to deal with climate change.

Xi provided no details, but depending on how the policy is implemented, the move could significantly limit the financing of coal plants in the developing world.

China has been under heavy diplomatic pressure to put an end to its coal financing overseas because it could make it easier for the world to stay on course to meet the goals of the Paris climate agreement to reduce carbon emissions.

Xi`s announcement followed similar moves by South Korea and Japan earlier this year, and U.N. Secretary-General Antonio Guterres and U.S. climate envoy John Kerry have urged China to follow the lead of its Asian counterparts.