The International Institute of Green Finance said in a report that China did not finance any coal projects through its Belt and Road Initiative in the first half, the first time it has.

The lack of funding for the dirtiest fossil fuel from China comes amid increasing scrutiny from investors and environmental groups over its contribution to man-made climate change. According to the Beijing-based institute, more than 70% of all coal plants built today rely on Chinese funding, followed by investments from Japan and South Korea. Seoul said in April that it would halt state-backed financing of coal-fired power plants overseas.

IIGF said BRI funding in 140 countries totaled $19.3 billion in the first six months of 2021, down 29% from a year ago. Investment through global infrastructure planning peaked in the first half of 2019, but has since stalled due to the COVID-19 pandemic. Energy and transportation accounted for 65% of all BRI investments in the first half. Within the energy sector, 37% of funding went to natural gas, 30% to oil and 28% to hydropower.

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