TY - JOUR
T1 - Chinese Overseas Development Financing of Electric Power Generation
T2 - A Comparative Analysis
AU - Chen, Xu
AU - Gallagher, Kevin P.
AU - Mauzerall, Denise L.
N1 - Funding Information:
X.C. is grateful for funding support from the Princeton School of Public and International Affairs , the Center for Policy Research on Energy and the Environment at Princeton University , and the Global Development Policy Center (GDP Center) at Boston University (where she was a pre-doctoral fellow at the inception of this research) . K.P.G. is grateful to the Charles Stewart Mott Foundation , ClimateWorks Foundations , and the Rockefeller Brothers Fund for their support of the GDP Center’s generation of data and research on Chinese overseas investment. D.L.M. is grateful for funding from Princeton University.
Funding Information:
X.C. is grateful for funding support from the Princeton School of Public and International Affairs, the Center for Policy Research on Energy and the Environment at Princeton University, and the Global Development Policy Center (GDP Center) at Boston University (where she was a pre-doctoral fellow at the inception of this research). K.P.G. is grateful to the Charles Stewart Mott Foundation, ClimateWorks Foundations, and the Rockefeller Brothers Fund for their support of the GDP Center's generation of data and research on Chinese overseas investment. D.L.M. is grateful for funding from Princeton University. Conceptualization, X.C. K.P.G. and D.L.M.; Methodology, X.C. and K.P.G.; Formal Analysis, X.C.; Writing ? Original Draft, X.C. and K.P.G.; Writing ? Review & Editing, X.C. and D.L.M.; Visualization, X.C.; Supervision, D.L.M.; Funding Acquisition, K.P.G. and D.L.M. The authors declare no competing interests.
Publisher Copyright:
© 2020 The Authors
PY - 2020/10/23
Y1 - 2020/10/23
N2 - Global power generation must rapidly decarbonize by mid-century to meet the goal of stabilizing global warming below 2°C. To meet this objective, multilateral development banks (MDBs) have gradually reduced fossil fuel and increased renewable energy financing. Meanwhile, globally active national development finance institutions (DFIs) from Japan and South Korea have continued to finance overseas coal plants. Less is known about the increasingly active Chinese DFIs. Here, we construct a new dataset of China's policy banks’ overseas power generation financing and compare their technology choices and impact on generation capacity with MDBs and Japanese and South Korean DFIs. We find that Chinese DFI power financing since 2000 has dramatically increased, surpassing other East Asian national DFIs and the major MDBs’ collective public sector power financing in 2013. As most Chinese DFI financing is currently in coal, decarbonization of their power investments will be critical in reducing future carbon emissions from recipient countries.
AB - Global power generation must rapidly decarbonize by mid-century to meet the goal of stabilizing global warming below 2°C. To meet this objective, multilateral development banks (MDBs) have gradually reduced fossil fuel and increased renewable energy financing. Meanwhile, globally active national development finance institutions (DFIs) from Japan and South Korea have continued to finance overseas coal plants. Less is known about the increasingly active Chinese DFIs. Here, we construct a new dataset of China's policy banks’ overseas power generation financing and compare their technology choices and impact on generation capacity with MDBs and Japanese and South Korean DFIs. We find that Chinese DFI power financing since 2000 has dramatically increased, surpassing other East Asian national DFIs and the major MDBs’ collective public sector power financing in 2013. As most Chinese DFI financing is currently in coal, decarbonization of their power investments will be critical in reducing future carbon emissions from recipient countries.
KW - Chinese DFI financing
KW - committed carbon emissions
KW - development finance institution
KW - power generation
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U2 - 10.1016/j.oneear.2020.09.015
DO - 10.1016/j.oneear.2020.09.015
M3 - Article
AN - SCOPUS:85096191861
SN - 2590-3330
VL - 3
SP - 491
EP - 503
JO - One Earth
JF - One Earth
IS - 4
ER -