The world's top exporter of coal used in power plants and China's largest overseas supplier has announced an export ban during January

On Saturday the Southeast Asian country announced a halt to exports this month to prioritise its own domestic supply and to avoid widespread blackouts

Indonesia is the world's biggest exporter of thermal coal, exporting around 400 million tonnes in 2020, and counts China, India, Japan and South Korea among customers

The People's Bank of China (PBoC) has provided 85.5 billion yuan ($13.43 billion) to lenders in the country's latest move to cut carbon emissions

Guodian Power Shanghaimiao Corporation said the plant's technology was the world's most efficient with the lowest rates of coal and water consumption.

The national emissions trading scheme, which covers some 2,225 power companies, will be opened to financial institutions as well as emitters in non-ferrous metal and building materials

China's central bank will issue a first batch of low-cost loans to financial institutions by the end of the month to enable carbon emissions cuts, Xinhua reported on Tuesday, citing PBOC chief Yi Gang.

The combined 2.05 trillion yen ($17.94 billion) in loans will be disbursed on Friday and mature in January 2023, the central bank said in a statement

The price jumped 5.4% from the previous day to close at 49.18 yuan ($7.71) per tonne on Monday, the highest since ending the day at 50.20 yuan on August 24

Traditional fossil fuels should be phased out only when renewable sources are reliable, Chinese policymakers have concluded

Campaigners say the bank provided $4.1 billion to companies planning new coal plants and $15 billion to the coal industry. They say coal developers should be blacklisted

The price increases are among the first signals that the new Omicron variant could cause supply-side pressures and commodity price rises