Coal news and updates

China Pledges $31 Billion of Credit to Back Clean Use of Coal

China will establish a special relending facility of 200 billion yuan ($31.35 billion) to support the clean use of coal, the country’s cabinet said Wednesday.

The move follows a carbon-reduction support tool launched last week by the central bank to help businesses reduce emissions of climate change-causing carbon dioxide, showing that the world’s largest greenhouse gas emitter is moving to reduce reliance on coal while trying to achieve its long-term carbon neutrality goals.

The loans would support cleaner methods of using coal, such as smart mining, more-efficient coal-fired power plants, clean residential and industrial heating, and development and utilization of coalbed methane, the State Council said.