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China continues its green revolution

China is one of the world’s worst polluters, but its green credentials are improving. How serious is the country’s commitment to the environment, particularly in relation to responsible financing?  
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China’s reputation as the world’s biggest emitter of carbon emissions precedes it. The country’s myriad factories and carbon-fired power plants mean it uses half of the world’s coal, with electricity production and the steel industry the biggest consumers. 

Carbon emissions also have a significant impact on the country’s air quality. Air quality tracker AirNow reports the Air Quality Index (AQI), as defined by the US Environmental Protection Agency. According to AirNow, during 2019, Beijing had an average AQI of 119. However, it rose as high as 152 in February that year. Any number over 101 is considered to be dangerous to the health of people in sensitive groups, and poor air quality can have a significant social, as well as environmental, cost. 

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Kimberley Long is the Asia editor at The Banker. She joined from Euromoney, where she spent four years as transaction services editor. She has a BA in English Language and Literature from the University of Liverpool, and an MA in Print Journalism from the University of Sheffield. Between degrees she spent a year teaching English in Japan as part of the JET Programme.
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