Find out what is happening in China due to the coal shortage

• China has been facing long blackout hours due to the electricity shortfall primarily attributed to coal shortages. about two-thirds of China's energy is generated from the coal-fired plants

• As a result, China might look to import coal from nations like Europe and India which have abundant quantities of coal since it is impossible to raise domestic output at a short notice

• However recently at the UN session, China had stated that it would stop financing and supporting coal-fired power plants in the country and in foreign nations

• China’s President Xi Jinping announced in late 2020 at a United Nations summit on climate change that the country would cut its carbon dioxide emissions per unit of gross domestic product, or carbon intensity, by more than 65% from 2005 levels by 2030.

• As the world’s top producer of carbon dioxide and other polluting gases, China’s ability to cut emissions is seen as critical in the global fight against climate change

• Recent energy crisis has led to an upsurge in the per barrel price of crude oil

• Refusal to import coal from Australia has resulted in several companies to shut down operations temporarily to cut down losses