From AFP:
China’s dependency on coal as its major energy source is creating hidden environmental and other costs worth more than seven percent of its annual gross domestic product, green groups said Monday.
A report entitled: “The True Cost of Coal“, jointly commissioned by Greenpeace, the Energy Foundation and conservation group WWF, said taking into account the real expense was vital to the nation’s future energy security.
The unaccounted costs equate to an estimated 1.7 trillion yuan (249 billion dollars), and would be even higher if the impacts of climate change were included, according to the report.
“Environmental and social damages are underestimated while using coal in China as a result of market failures and weakness in government regulations”, said Mao Yushi, an economist and lead author of the report.
