As Glasgow approaches, China shuns coal projects in Belt and Road for first time We’re sorry, this service is currently unavailable. Please try again later. Dismiss By Bloomberg News Normal text size Advertisement China didn’t finance any coal projects via its Belt and Road Initiative in the first half, the first time that’s happened since the plan was launched in 2013, the International Institute of Green Finance said in a report. The lack of funding from China for the dirtiest fossil fuel comes amid increased scrutiny from investors and environmental groups due to concern over its contribution to man-made climate change. More than 70 per cent of all coal plants built today rely on Chinese funding, according to the Beijing-based institute, followed by investment from Japan and South Korea. Seoul said in April that it would halt state-backed financing of coal-fired power plants overseas.