# Global coal financing and climate pledge compliance

> Live situation record from CLSTR: https://clstr.news/situations/global-coal-financing-and-climate-pledge-compliance
> Updated: 2026-09-28T18:24:42.000Z. Sources: 6. Developments: 2.

Reports indicate that while China has largely adhered to a 2021 pledge by President Xi Jinping to cease funding overseas coal power plants, global coal financing remains high. Although China has canceled the majority of its planned overseas coal projects, experts warn that companies may be utilizing regulatory loopholes to continue these investments.

Global demand for energy security, influenced by recent conflicts, continues to drive coal use, particularly in Southeast Asia. Furthermore, studies show that banks in China, the United States, Indonesia, South Korea, and the United Kingdom are currently providing more funding for coal-fired power operations than they were five years ago, despite international pledges made at COP26 to phase down electricity generation.

## Timeline

### 2026-09-28: Coal financing increases despite global phase-down pledges

Despite COP26 pledges, banks in China, the US, Indonesia, South Korea, and the UK are increasing coal-fired power financing, even as China attempts to scale back overseas coal projects.

2 sources. https://clstr.news/cluster/coal-financing-increases-despite-global-phase-down-pledges

### 2026-09-26: China adheres to overseas coal funding pledge despite regulatory loopholes

China has mostly honored its 2021 pledge to stop funding overseas coal, but experts warn that regulatory loopholes allow some companies to continue investments despite global climate goals.

4 sources. https://clstr.news/cluster/china-adheres-to-overseas-coal-funding-pledge-despite-regulatory-loopholes

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Cite as: Global coal financing and climate pledge compliance. CLSTR, https://clstr.news/situations/global-coal-financing-and-climate-pledge-compliance