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While the world goes cool on coal, China plots climate-critical dirty energy push
(Eco Business, 28 Mar 2019) Coal power capacity growth dropped for the third year in a row in 2018, but the world’s second largest economy is powering ahead with a plan that puts global climate goals in jeopardy.
Despite the best efforts of President Donald Trump to keep his country’s ageing coal fleet online, the United States retired more coal power plants than any other country in 2018, as the future darkens for the world’s biggest source of man-made greenhouse gas emissions.
According to a new report published on Thursday from Greenpeace, Global Energy Monitor, and The Sierra Club, titled Boom and Bust 2019, coal power capacity growth declined in 2018 for the third year in a row, reflecting an ever tougher political and economic climate for developers of the fossil fuel.
Financial restrictions by over 100 institutions and coal phase-out plans in 31 countries have helped precipitate a 20 per cent drop in newly completed coal plants in 2018, while the start of new coal projects dropped by 39 per cent.
While the US accounted for over half of the world’s retired coal plants in 2018, China and India, which have accounted for 85 per cent of new coal power capacity since 2005, saw the number of permits for new plants drop to record lows, the report found.
The dragon keeps on puffing
However, while India is bringing more wind and solar online than coal, China is planning to dramatically ramp up its coal capacity.
Eco Business, 28 Mar 2019: While the world goes cool on coal, China plots climate-critical dirty energy push
