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China is the largest financiers of coal-fired energy and have financed 70 percent of all coal-fired power plants

Not only human rights were discussed at the big #BoycottBejing demonstration in Brussels, Geneva, Berlin and Antwerp last week. There was also an important separate action for the Industrial Commercial Bank of China.

Not only human rights were discussed at the big #BoycottBejing demonstrations in Brussels, Geneva, Berlin and Antwerp last week. There was also an important separate action for the Industrial Commercial Bank of China in Brussels.

China is the largest financiers of coal-fired energy and have financed 70 percent of all coal-fired power plants.

China must transition away from coal-fired energy. If it does not, it will risk the health of the planet and will be the primary cause of a rise in the number of climate refugees and rising emissions.”
— Andy Vermaut, International Alliance for the defense of rights and freedoms

BRUSSELS, BELGIUM, January 9, 2022 /EINPresswire.com/ -- Last week, the International Alliance for the Defense of Rights and Liberties (AIDL) protested outside the world's biggest bank, the Industrial and Commercial Bank of China, which has a branch in the Belgian-European capital Brussels. Andy Vermaut:"If anyone still has principles anywhere in the world, we should dare to take the bull by the horns. China is totally not innocent. Nobody in the world is willing to take action against this bank because everyone is afraid of the world's biggest bank, and no one is willing to hold China responsible. Instead, we need to hold the world's largest bank accountable instead of pretending that nothing is wrong."

Andy Vermaut, organizer of the action, explains passionately: "The Chinese manager of the bank in Brussels held me personally responsible for this action and told me that I will suffer personal consequences for my action in front of this bank. Instead of personal consequences, this bank would do better to make extra efforts to combat climate change. It could already gain much more sympathy with that, and this bank is also capable of stopping climate change on its own, because this bank is the biggest bank in the whole world. The Industrial and Commercial Bank of China (ICBC) was founded in 1984 and has quickly risen to become the world's biggest bank in terms of assets. In 2017 the total amount of its assets were staggering: $3.47 trillion. The bulk of ICBC's activities are focused on industry These lenders' loans are concentrated in industries such as manufacturing, transportation, energy, and retail. There are no indications of a slowdown here either. In the third quarter of 2017, the company's earnings climbed by 3.3 percent," says Andy Vermaut.

China has surpassed the United States as the world's greatest net polluter.
Andy Vermaut continues: "With the International Alliance for the Defense of Rights and Freedoms (AIDL) consulted by UN (Ecosoc), we are very concerned that China's carbon emissions continue to rise. China is now really the world's biggest polluter, given that its population is also constantly increasing. We are talking about an emission of 2912 million tons of CO2, which is three times more than India, which is doing quite well with 666 million tons of CO2 in 2021. China's total emissions really need to come down drastically. China has overtaken the United States as the largest net polluter on the planet."

China is to blame for the climatic calamity we are now seeing.
Andy Vermaut, on behalf of the International Alliance for the Defense of Rights and Freedoms (AIDL), explains: "We will never win the fight against climate change until we do all we can to significantly cut Chinese emissions. Even after the Paris climate deal, and now after the Glasgow climate meeting, China's carbon emissions continue to rise. In reality, China's emissions are increasing year after year, with no signs of abating until 2030. In other words, China has some blame for the current climate catastrophe. The International Alliance for the Defense of Rights and Liberties (AIDL) is very worried. After all, China has not said how it intends to reduce carbon dioxide emissions. According to XI Ping's present policy, China's coal use will almost likely not decline quickly enough over the next eight years to fulfill the 1.5°C objective. In this respect, we hear many great words from China, but they are merely words, not acts."

China permits only an increase in coal output.
Why, according to Andy Vermaut: "In spite of their nice words and promises, China has allowed coal output and consumption to increase during the last four years. In 2020 alone, China has added more than 45 gigatonnes of capacity by constructing new coal-fired power plants, which were co-financed by China's top banks. That additional capacity added in 2020 alone is equivalent to Germany's whole coal capacity, the world's third-biggest industrial power. So, based on their behaviour, China is clearly not serious. We've had enough of the various talking points China peddles to the rest of the globe. China continues to be the world's greatest emitter of greenhouse gases, generating more than a thousand gigatonnes of coal power in China alone, more than half of the total globally and more than four times as much as the world's first and second-largest consumers of coal power. China should stop talking, and we also demand that the Industrial and Commercial Bank of China immediately cease all investments in polluting energy, which is accelerating climate change. Stop right now. China must transition away from coal-fired energy. If it does not, it will risk the health of everyone on the planet and will be the primary cause of a rise in the number of climate refugees and rising emissions."

China's path must be corrected urgently.
Andy Vermaut: "We, together with the International Alliance for the Defense of Rights and Liberties (AIDL), demand that coal-fired power plant building in China be halted and phased out immediately. If this does not occur, the European Union should levy import fees on all commodities based on the quantity of carbon burnt in their production. It is also unfair competition not to pass on the polluter's price to the world's greatest net polluter. Unfortunately, this is the only option to persuade China to alter its attitude. We also want to call attention to this via our #BoyCottBeijing campaign. China should alter its direction now, not in 2030. The climate crisis is more pressing than ever for us and future generations."

Database access is halted.
Andy Vermaut: "It's a shame that Chinese banks are still financing Chinese coal projects. It's unfortunate that we had to warn this bank today since Chinese banks are the world's biggest financiers of coal-fired energy, financing 70% of all new coal-fired power projects. China, shame on you. Boycott Beijing in the sake of Mother Nature. Meanwhile, the International Alliance for the Defense of Rights and Freedoms (AIDL) has discovered that China's opacity is expanding across the board, particularly in data sharing in manufacturing, academics, commodities, energy, shipping, and the economy as a whole. We note that we no longer have access to information on Chinese coal demand. It is now more difficult to follow ships in Chinese seas, concealing not just trade patterns and potential sanctions breaches, but also the global effect on the environment. Zero2ipo, one of China's most popular investment finance databases, no longer exchanges information with other nations. Some of this is due to increased data security rules, while some is due to political reasons. Academic interaction, for example, has fallen dramatically. The Chinese government declared in 2018 and 2019 that it has terminated 286 collaboration programs between Chinese and international colleges; information is no longer exchanged there, and twice as many cooperation projects have already been terminated in 2020 and 2021. This tells everything about democracy in China, or the lack thereof, for us, the globe, and Mother Nature ", concludes Andy Vermaut.

More info: Andy Vermaut
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Andy Vermaut:"70 percent of the world's coal-fired power plants are financed by China."