Report finds China is using green bonds to fund coal projects

first_imgReport finds China is using green bonds to fund coal projects FacebookTwitterLinkedInEmailPrint分享Reuters:Chinese financial institutions provided at least $1 billion in “green” financing to coal-related projects in the first half of this year, a review of financial data showed, with fossil fuels still playing a major role in Beijing’s energy strategy.According to Shanghai-based financial data provider Wind, 7.4 billion yuan ($1.1 billion) in green corporate and financial bonds were issued by 13 coal projects in the first half of the year. They involved power plants fueled by coal or coalbed methane as well as coal-to-chemical projects.Cutting coal and encouraging cleaner forms of energy is a major part of China’s efforts to reduce smog and greenhouse gases. The share of coal in the country’s total energy mix fell to 59% last year, down from 68.5% in 2012, and it aims to cut that share to around 50% by 2030. But overall capacity is still set to grow even as it falls as a share of the total, and China also needs to upgrade existing mines and plants. Thus, while many global financial institutions have said they will no longer fund coal projects, their Chinese counterparts have not followed suit.Last year, more than a quarter of the green bonds issued in China failed to meet international criteria, according to the Climate Bonds Initiative (CBI), a non-profit group that promotes global green bond standards.Chinese regulators were planning earlier this year to devise new standards to prevent coal projects from issuing green bonds to bring the nation more in line with global norms. But the move has been opposed by state planning agency, the National Development and Reform Commission, with funding still needed for ultra-low emissions technology and to develop cleaner coal revenue streams such as coal chemicals and coalbed methane.More: China provides $1 billion in ‘green’ finance to coal projects in first half of the yearlast_img read more

Arsenal legend Martin Keown tells Unai Emery what formation to pick against Tottenham

first_imgEmery is ‘confusing’ his players with constant formation changes, says Keown (Picture: Getty)‘Even I’m getting confused just thinking about it. As a defender, you like consistency.‘You like to know what you’re doing. So far this season, Emery has stood by four at the back.‘I’d suggest sticking with that for Tottenham, as well as starting their big three in attack.‘I’d like to see Pierre-Emerick Aubameyang, Alexandre Lacazette and Nicolas Pepe all start, but your guess is as good as mine what system he will use!’ Arsenal legend Martin Keown tells Unai Emery what formation to pick against Tottenham Unai Emery’s Arsenal host Mauricio Pochettino’s Spurs side at the Emirates (Picture: Getty)Ian Wright admitted he was left ‘baffled’ and ‘confused’ by Emery’s diamond formation last weekend.‘It was one of the things that I was baffled by,’ the ex-Arsenal striker told BBC Sport.‘Before the game I was hoping to see Lacazette, Pepe and Aubameyang as I believe that Liverpool playing with a high line were there for the taking and I was really excited about that.‘And then to see the diamond or triangle given up space to Alexander-Arnold and Robertson was confusing for me.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves‘I don’t know if he’s doing it because he might use that system against lesser teams and it might work as he wants to keep it narrow.‘I thought against Liverpool it was a tactic that was handing them the incentive and I thought we played a bit too deep.‘The chances we got were mistakes from Liverpool and in the main Liverpool were in control of that.‘I would rather we just go there with potency that we have and show them this is what Arsenal are about now. This is how we are moving forward but it was a confusing one for me.’ Metro Sport ReporterSunday 1 Sep 2019 1:13 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link402Shares Arsenal v Tottenham: Mauricio Pochettino press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 41:42FullscreenArsenal v Tottenham: Mauricio Pochettino press conference is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Sadio Mane ‘laughing and joking’ in Liverpool dressing room after spat with Mohamed Salah Arsenal great Martin Keown hopes Unai Emery ditches his diamond formation against Tottenham (Picture: Getty)Former Arsenal defender Martin Keown has urged Unai Emery to start with a back four and the ‘big three’ of Pierre-Emerick Aubameyang, Alexandre Lacazette and Nicolas Pepe in attack against Tottenham.Emery was widely panned for picking a diamond formation at Anfield last weekend as Liverpool held on to top spot in the Premier League with a comfortable 3-1 victory over the Gunners.Arsenal’s unexpected formation allowed Liverpool full-backs Andy Robertson and Trent Alexander-Arnold acres of space down the flanks and Jurgen Klopp admitted it took him by complete surprise after the final whistle.Club legend Keown has pleaded with Emery to ditch the diamond against Spurs on Sunday afternoon and stick with a consistent formation over the coming months.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘Emery loves to chop and change his shape. He showed that last season,’ Keown told The Daily Mail ahead of the north London derby.‘On February 3, for example, Arsenal used a classic 4-4-2 formation against Manchester City. In the following fixture, they used 3-4-3 against Huddersfield.‘Next up came a 4-2-3-1 shape against Southampton, then a 3-4-2-1 against Bournemouth. Advertisement Comment Advertisementlast_img read more