Share this on social media
Asian Development Bank plans to buy out and retire coal plants
(China Dialogue, 25 Oct 2021) As COP26 approaches, the ADB is pitching a solution to help countries retire polluting coal plants early.
Mounting evidence from across the globe shows that coal has had its time. The most polluting fossil fuel is not only bad for the climate and public health, but it is also becoming financially unviable as renewable energy prices plummet. And yet, together with oil, it still dominates the world’s energy mix. Coal continues to play a major role in energy production and remains a major energy source in many Asian countries like China, India and Indonesia, as well as in many other parts of the world.
Now, a range of financial institutions in Asia and beyond are looking to buy out coal assets to hasten its phaseout. But experts still question whether the idea has what it takes to catalyse a deep and just energy transition.
Running out of time to phase out coal
In the latest report by the UN Intergovernmental Panel on Climate Change (IPCC), scientists have made clear once again that a deep decarbonisation of the world’s economy is essential to avoid the worst consequences of global warming. But markets alone do not seem to be able to displace coal fast enough.
External link
China Dialogue, 25 Oct 2021: Asian Development Bank plans to buy out and retire coal plants
More Related News
Coal exit
23 Apr 2024: China can't quit coal by 2040, researchers say, despite global climate goals
16 Apr 2024: ‘Right time to revisit’ managed coal phase-out in Japan: GFANZ APAC
12 Apr 2024: China responsible for 95% of new coal power construction in 2023, report says
2 Apr 2024: Coal phase-out: Germany shuts down 15 coal-fired power plants
14 Mar 2024: Europe’s coal legacy remains a major climate hurdle
8 Mar 2024: Departing from coal: Poland’s new energy roadmap
15 Feb 2024: Germany deletes EU CO2 allowances freed up by coal exit
16 Jan 2024: Market economics to cut Bulgaria's coal use before 2038 deadline - minister
15 Jan 2024: Poland plans to set end date for coal power
22 Dec 2023: EU Commission allocates €1.2 billion for transformation of coal regions in Bulgaria
19 Dec 2023: Seven European countries pledge CO2-free power systems by 2035
15 Dec 2023: Global coal use at all-time high in 2023 - IEA
4 Dec 2023: Vietnam charts uncertain coal path as finance falls short
1 Dec 2023: India’s growing informal coal workforce complicates energy transition
21 Nov 2023: France, US to propose ban on private finance to coal-fired plants at COP28
17 Nov 2023: EBRD backs 4 billion euro plan to wean North Macedonia off coal power
24 Oct 2023: World oil, gas, coal demand to peak by 2030, IEA says
10 Oct 2023: Retiring coal plants early can benefit investors, communities and climate
20 Jul 2023: India's coal mining bet stumbles as wary banks weigh rising risks
20 Jun 2023: South Africa’s coal lobby is resisting a green transition
5 Jun 2023: Italy could abandon coal by 2024, environment minister says
26 May 2023: India has big clean energy goals - so why is it banking on coal?
16 May 2023: Poland’s renewables capacity growing but coal still dominates – report
5 May 2023: India mulls end to coal plant construction
24 Apr 2023: China ramps up coal power despite carbon neutral pledges
18 Apr 2023: Southeast Asia must retire 5.5GW of coal plants per year to meet climate goals
6 Apr 2023: Phaseout of coal power far too slow to avoid ‘climate chaos’, report finds
3 Apr 2023: More renewables, more coal: Where are China’s emissions really headed?
28 Mar 2023: Unions call for energy transition authority to help workers exiting fossil fuel sector
24 Mar 2023: Czech coal regions risk losing EU money
23 Mar 2023: India's shrinking coal jobs fuel 'distress' migration to cities
14 Mar 2023: Can Colombia's green energy plan succeed without fossil fuel cash?
13 Mar 2023: Vietnam’s energy transition deal is a ‘black box’, partner warns
7 Mar 2023: EU rewrites climate diplomacy deal to resolve nuclear sticking point
3 Mar 2023: Chinese provinces push for coal and clean energy
28 Feb 2023: Confusion surrounds China’s energy policies as GDP and climate goals clash
27 Feb 2023: War in Ukraine has not increased EU fossil fuel consumption
17 Feb 2023: Study: IPCC asks emerging countries to drop coal faster than rich nations did
16 Feb 2023: Analysis: Contradictory coal data clouds China’s CO2 emissions ‘rebound’ in 2022
31 Jan 2023: Renewables overtook gas in power generation for first time in 2022: study
30 Jan 2023: The time to scale-up energy storage in southeastern Europe is now
27 Jan 2023: South Africa’s women need the energy transition to work for them
27 Jan 2023: With Russian gas gone, coal makes EU comeback as ‘traditional fuel’
23 Dec 2022: Vietnam struggles to quit coal as renewable energy faces hurdles
19 Dec 2022: EU coal consumption, production to temporarily increase – then fall
13 Dec 2022: Children of India's burning coalfields dream of a fire-free future
8 Nov 2022: Poland to slow coal phase-out process, maintain 2049 end-date
7 Nov 2022: South Africa pitches $84bn plan to shift from coal to clean energy
27 Oct 2022: Climate fund approves plan to speed up coal retirement in Indonesia
25 Oct 2022: Mark Carney denies big banks threatened to quit climate finance group
6 Oct 2022: ‘Reckless’ coal firms plan climate-busting expansion, study finds
23 Sep 2022: China’s no new coal power overseas pledge, one year on
13 Sep 2022: Indian coal hub juggles need for jobs with hope for greener future
9 Sep 2022: US: Remember that coal surge last year? Yeah, it’s over
21 Jul 2022: China’s move to increase coal supplies won’t affect decarbonisation
12 Jul 2022: Energy crisis ‘mess’ causes headache for coal regions’ transition
5 Jul 2022: Proposed plants in Indonesia, Bangladesh scrapped as Japan scales back coal funding
14 Jun 2022: Western Australia to become coal-free by 2030 with Muja power station to be shut down
31 May 2022: Australia urged to quickly ditch coal to meet new climate goals
12 Apr 2022: As Japan sanctions Russian coal, it is high time to kick the habit altogether
7 Mar 2022: India's first social plan for closed coal hubs aims for 'honourable' lives
22 Feb 2022: Why is a tech billionaire trying to buy Australia’s dirtiest energy company AGL?
18 Feb 2022: Australia’s biggest coal plant to close in 2025, seven years early
7 Feb 2022: China’s pledge to end overseas coal support yields mixed results in Serbia and Bosnia
3 Feb 2022: Activists demand stop to Japan-funded coal plant in climate-vulnerable Bangladesh
1 Feb 2022: Non-fossil fuels forecast to be 50% of China's power capacity in 2022
31 Jan 2022: Vietnam targets net zero, but struggles to break coal dependence
25 Jan 2022: Asia's emissions-reduction plan for the world
25 Jan 2022: Global aid deals to end coal urged to prioritise workers, transparency
10 Dec 2021: Cutting out coal: what does a just transition look like?
3 Dec 2021: Half of global coal companies continue to develop new assets
26 Nov 2021: S.Africa will only accept $8.5 bln green energy deal on good terms, president says
25 Nov 2021: India ‘cannot escape’ coal phasedown, top coal ministry official says
25 Nov 2021: Next German government aims for coal exit in 2030
23 Nov 2021: Portugal's power production goes coal-free long before deadline
18 Nov 2021: ANALYSIS-Coal power stand at COP26 climate talks lends India time to transition
18 Nov 2021: Down in a hole: Bosnia miners fear green revolution
4 Nov 2021: New funding for poor nations' coal exit needs better planning for workers
29 Oct 2021: Cambodia can secure reliable electricity without new coal
28 Oct 2021: EU to launch COP26 project with South Africa to speed up coal exit
18 Oct 2021: China, coal and COP26: can the world’s biggest emitter give up its dirty habit?
7 Oct 2021: Countries are wasting money on energy sources they already know are history
30 Sep 2021: Joe Manchin, America’s climate decider-in-chief, is a coal baron
27 Sep 2021: Australian PM refuses to commit to phasing out fossil fuels
24 Sep 2021: Poland refuses to close disputed coal mine despite EU court penalty
20 Sep 2021: Indonesia clings to coal despite green vision for economy
17 Sep 2021: UK climate envoy to visit South Africa to discuss helping shift from coal
9 Sep 2021: 'Tiger on my farm': Indian coal mining hub brings new dangers for villagers
29 Jul 2021: Coal country cleanup: Biden plan sketches out possible future for former miners
29 Jul 2021: G20 climate and energy ministers split over coal exit
28 Jun 2021: Bangladesh scraps plans to build 10 coal-fired power plants
28 Jun 2021: The EU must tell the world it will power past coal by 2030
18 Jun 2021: More China coal investments overseas cancelled than commissioned since 2017 - research
14 Jun 2021: G7 agrees to end new gov't support for coal power by end of 2021
8 Jun 2021: Lack of coal phase-out commitments in Eastern Europe jeopardises just transition
8 Jun 2021: Lack of coal phase-out commitments in Eastern Europe jeopardises just transition
4 Jun 2021: Romania commits to phase out coal by 2032
4 Jun 2021: State vs private: Europe’s mismatched transition out of coal
17 May 2021: Merkel rejects bringing forward Germany's exit from coal
29 Apr 2021: Global alliance for phasing out coal not fit for purpose, says NGO
26 Apr 2021: Greece confirms last coal plant will be shut in 2025
22 Apr 2021: S.Africa's Nedbank aims zero exposure to fossil fuels by 2045
22 Apr 2021: Poland seeks to nationalise coal plants so firms can finance green investments
8 Apr 2021: Japan set to raise ambition of 2030 climate goal
29 Mar 2021: China generated over half world's coal-fired power in 2020 - study
25 Mar 2021: Europe halfway towards closing all coal power plants by 2030
15 Mar 2021: Green jobs in Cumbria could far surpass posts in coalmine, report says
5 Mar 2021: Hungary brings coal exit forward by five years, to 2025
4 Mar 2021: EU countries approve green transition fund, look to challenges ahead
4 Mar 2021: How private equity squeezes cash from the dying US coal industry
25 Feb 2021: Bangladesh scraps nine coal power plants as overseas finance dries up
25 Feb 2021: Pakistan faces an unexpected dilemma: too much electricity
15 Feb 2021: Mexico was once a climate leader – now it's betting big on coal
8 Feb 2021: Coal-fired power took a beating during the pandemic, study finds
1 Feb 2021: World needs to kick its coal habit to start green recovery, says IEA head
22 Jan 2021: West Poland subregion aims to be first in the country to hit net zero
19 Jan 2021: Czech health minister backs coal mining phase-out ‘as soon as possible’
18 Jan 2021: 2020: The year that coal power took a hit
14 Jan 2021: BlackRock holds $85bn in coal despite pledge to sell fossil fuel shares
22 Dec 2020: IEA: Coal expected to rebound in 2021, future of coal will be decided in Asia
21 Dec 2020: Shift in Chinese energy investments set to help Greece reach climate targets
17 Dec 2020: Pakistan signals coal power exit, in potential model for China’s belt and road
7 Dec 2020: Czechs eyes coal phase-out by 2038
3 Dec 2020: China’s environment ministry floats ‘ban’ on coal power investment abroad
3 Dec 2020: While coal premiums soar, insurance groups still supports oil and gas
26 Nov 2020: Brussels approves German hard coal exit tender
13 Nov 2020: Almost half of thermal coal firms set to defy climate pledge – report
12 Nov 2020: Why India should keep coal out of its infrastructure story
12 Nov 2020: Renewable energy defies Covid-19 to hit record growth in 2020
9 Nov 2020: S.African investors exit local coal project on climate concerns
29 Oct 2020: Philippines announces moratorium on new coal power
22 Oct 2020: Poland’s largest utility announces pivot from coal to renewables
19 Oct 2020: Bulgaria calls for EU help to phase out coal
19 Oct 2020: EU funds drive rethink in East Europe on climate, says Timmermans
5 Oct 2020: EU climate target of -55% would mean near-exit from coal in 2030 – experts
1 Oct 2020: Poland’s coal remains king, but renewables gain
28 Sep 2020: Poland agrees to shut coal mines by 2049
24 Sep 2020: 5 burning questions about China’s carbon neutrality pledge
11 Sep 2020: Poland to accelerate coal phase-out, spend billions on renewable and nuclear energy
31 Aug 2020: Coal mine protests in Germany and Poland highlight phase-out challenges
31 Aug 2020: Germany begins allocating €40 billion to coal regions to start phase-out
28 Aug 2020: Poland’s planned energy restructuring set to hasten coal demise
23 Jul 2020: Poland bails out coal, yet wins access to EU climate funds
25 Jun 2020: German cabinet approves final ‘Coal Phase-out Act’
9 Jun 2020: How to replace coal power with renewables in developing countries
4 Jun 2020: The Just Transition Fund must reward climate ambition
2 Jun 2020: U.S. EPA moves to curb state powers to deny permits for energy projects
25 May 2020: ‘Not appropriate’: Uniper seeks compensation for Dutch coal phase-out
18 May 2020: Coal industry will never recover after coronavirus pandemic, say experts
12 May 2020: Coronavirus lockdown speeds India’s shift from coal to solar power
28 Apr 2020: JBIC becomes third Japanese bank in a month to signal move away from coal
27 Apr 2020: No more loopholes: HSBC closes door on new coal projects
27 Apr 2020: It’s a galloping goodbye to Europe’s coal
23 Apr 2020: Sweden adds name to growing list of coal-free states in Europe
30 Mar 2020: Coal exit will benefit health, wealth and nature
10 Mar 2020: Global CO2 emissions from power sector fell 2% last year - study
3 Mar 2020: Challenging Bulgarian coal plants’ new waste burning obsession
20 Feb 2020: North Macedonia wins EU praise for pioneering coal-to-solar shift
11 Feb 2020: Campaigners urge African Union to stop fossil fuel proliferation on continent
30 Jan 2020: India's pollution regulator ponders coal plant penalties
30 Jan 2020: What will Germany’s coal phase-out mean for the EU carbon market?
27 Jan 2020: HSBC exits Vinh Tan 3 coal power project in Vietnam
23 Jan 2020: Germany’s new coal phase-out plan upsets country’s Coal Commission
21 Jan 2020: Boris Johnson announces ban on foreign aid for coal mines and power stations
20 Jan 2020: Germany’s new coal phase-out plan: Lots of money, little climate ambition
16 Jan 2020: New Cumbria coalmine 'incompatible' with climate crisis goals
16 Jan 2020: Merkel, state leaders agree terms of brown coal exit
16 Jan 2020: EU plans ditching carbon cost refund for seven industrial sectors
8 Jan 2020: UK reaches milestone with zero carbon electricity surpassing fossil fuels in 2019
8 Jan 2020: Barclays pressured by shareholders to cut fossil fuel financing
8 Jan 2020: London, New York mayors urge cities to divest from fossil fuels
19 Dec 2019: Standard Chartered Bank pulls out of three coal projects in Southeast Asia
2 Dec 2019: Coal power becoming 'uninsurable' as firms refuse cover
22 Feb 2019: Germany urged to stand firm on coal phase-out
31 Jan 2019: Analysis: How far would Germany’s 2038 coal phaseout breach Paris climate goals?
31 Jan 2019: Germany can end coal power much earlier than 2038
29 Jan 2019: What’s in the German coal commission’s final report?
