Xi did not provide specific details, but the implementation of the policy could greatly restrict the financing of coal plants in developing countries. China has faced pressure to stop coal financing abroad in order to help the world meet the goals of the Paris climate agreement. Xi's announcement came after similar actions by South Korea and Japan, and was encouraged by UN Secretary-General Antonio Guterres and US climate envoy John Kerry. Xi stated that China will increase support for developing countries in developing green energy and will no longer build new coal-fired power projects abroad. Kerry praised Xi's announcement, calling it a positive step towards success at the upcoming COP26 United Nations Climate Change Conference. "We have been in discussions with China about this for a significant amount of time. I am very pleased to hear that President Xi has made this important decision," Kerry said in a statement. Alok Sharma, the leader of COP26, also praised the announcement. "It is evident that the end is near for coal power. I appreciate President Xi's pledge to cease constructing new coal projects internationally - a major topic of my conversations during my trip to China," he stated on Twitter. Xi spoke following President Joe Biden's first address to the United Nations, where Biden emphasized a new era of competition without a new Cold War despite China's growing power. Xi's speech, delivered in a measured tone, did not directly address China's rivalry with the United States, which has prioritized climate change mitigation and sought cooperation with Beijing. Xi reiterated China's commitments to peak carbon dioxide emissions before 2030 and achieve carbon neutrality by 2060, targets that some experts have criticized as not ambitious enough. However, these commitments allowed Beijing to claim moral superiority on the issue, especially following the US withdrawal from the Paris climate agreement under former President Donald Trump. China, the top emitter of greenhouse gases in the world, still heavily relies on coal for its energy needs. Shortly after taking office in January, Biden made it a priority to restore US leadership on climate change by rejoining the Paris agreement. Justin Guay, director of global climate strategy at the Sunrise Project, noted that China's decision to stop public financing of coal could have a significant impact on global coal expansion. UN Secretary-General Guterres praised both China's coal move and Biden's commitment to increase funds to help developing nations combat climate change. He stated that speeding up the global elimination of coal is the most crucial action to achieve the 1.5-degree target of the Paris Agreement. Prior to this statement, Biden emphasized the importance of democracy over authoritarianism, without directly mentioning China. He emphasized the importance of allowing people to have freedom instead of oppressing them. Additionally, he called for the condemnation of discrimination and oppression against racial, ethnic, and religious minorities, citing examples in Xinjiang and northern Ethiopia. China has denied accusations of mistreatment in Xinjiang. Relations between the top two global economies have hit a low point in recent years due to various issues such as human rights violations and lack of transparency regarding the origin of COVID-19. Xi Jinping emphasized the need to avoid creating exclusive groups or engaging in competitive games, possibly alluding to the US-led Quad forum. China has expressed concerns about an escalating arms race in the region following the announcement of the AUKUS alliance involving the US, UK, and Australia. Despite facing criticism for the US withdrawal from Afghanistan, President Biden believes this will allow the US to focus more on the Indo-Pacific region. Xi Jinping criticized military intervention and attempts at imposing democracy from foreign powers, likely directed at the US.