The great coal cap: China’s energy policies and the financial implications for thermal coal

Since the beginning of the 21st century, China has accounted for over four-fifths of global coal consumption growth, half of which is thermal coal used predominantly to fuel China’s coal-fired power generation fleet. The purpose of this report is to demonstrate to key stakeholders that the dynamics of China’s thermal coal sector are changing and that a greater understanding of these dynamics is required, particularly in the context of transitioning to greener growth and the role that financial market actors play in this process.