Business News of Monday, 4 August 2025

Source: www.ghanaweb.com

No More Coal: China ends overseas coal financing, shifts to renewable energy

Tong Defa is the Chinese Ambassador to Ghana Tong Defa is the Chinese Ambassador to Ghana

China has once again reaffirmed its commitment to ending the financing of coal power projects beyond its borders, particularly in Africa, as part of its global climate pledge.

According to China’s Ambassador to Ghana, Tong Defa, the policy, first announced by Chinese President Xi Jinping at the United Nations General Assembly in 2021, marked a turning point in international energy financing and continues to shape China's climate diplomacy.

Before this global shift, China played a major role in financing coal infrastructure around the world, especially under its Belt and Road Initiative (BRI).

In an exclusive interview with GhanaWeb Business on the sidelines of the Africa-China Centre for Policy and Advisory (ACCPA) fellowship in Accra, Ambassador Tong stated that China has since redirected its focus toward green energy investments in line with global climate frameworks such as the Paris Agreement and its ambition to achieve carbon neutrality by 2060.

“China is a leading country in solar energy, wind energy, and even nuclear energy. There is an action plan between China and Africa for the energy transition. We are also focusing on helping Africa take advantage of its natural resources, especially sunshine. China can cooperate with African countries to build more solar power plants and farms. So, Africa can benefit from this solar power,” he explained.

Ambassador Tong also highlighted ongoing support for clean energy initiatives in Ghana, citing the government’s 24-Hour Plus Economy project.

He emphasised the importance of renewable energy in achieving the goals of that initiative.

“I also believe that for further development, African countries need more energy. Ghana’s government has a 24-hour economy plan, they need more power, more energy. So in this way, China can align with African countries, focusing especially on solar panels,” he added.

SP/MA

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