Global investment in coal tumbles by 75% in three years, as lenders lose appetite for fossil fuel
5 years, 7 months ago

Global investment in coal tumbles by 75% in three years, as lenders lose appetite for fossil fuel

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. But while dependence on coal remains high, with coal-fired power plants currently fuelling around 38 per cent of global electricity, a new report indicates the demise of coal is already well underway. The International Energy Agency’s new world investment report released this week, reveals the companies funding coal-fired power stations appear to be making significant recalculations about the long-term viability of these plants. Last year, with FID’s going down, the IEA noted: “It appears that banks, insurance companies, hedge funds, utilities and other operators in advanced economies are exiting the coal business.” This means that even without policy necessarily directing them, the financial concerns of investors over the future of the fossil fuel business are slowly ensuring money is being allocated to different areas. Mr Guterres said he will call on leaders to stop subsidising fossil fuels, and wants countries to build no new coal power plants after 2020.

Energy Plants Fuel Power Coal Report Iea Fossil Fuel Fid World Investment  global  plants  fuel  coalfired  75  fossil  report  appetite  tumbles  world  investment  gigawatts  lose  energy  fids  power  coal  lenders

History of this topic

What would it cost to kill coal?
2 months ago

What would it cost to kill coal?

The Economist  

Coal is the dirtiest fossil fuel Yet it still provides a third of global energy If the world could quit it, the climate benefits would be huge Coal is the dirtiest fossil fuel Yet it still provides a third of global energy If the world could quit it, the climate benefits would be huge Coal is the dirtiest fossil fuel …

King coal is dirty, dangerous—and far from dead
2 months ago

King coal is dirty, dangerous—and far from dead

Live Mint  

BRITAIN WAS the first country to generate electricity from coal. View Full Image If the current fleet of coal plants is run normally until 2050, they will emit some 250 gigatonnes of carbon dioxide, according to the International Energy Agency. South Africa has become a test case for the Just Energy Transition Partnership, a brainchild of the G7 club of …

China is backing off coal power plant approvals after a 2022-23 surge that alarmed climate experts
4 months, 3 weeks ago

China is backing off coal power plant approvals after a 2022-23 surge that alarmed climate experts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

China is backing off coal power plant approvals after a 2022-23 surge that alarmed climate experts
4 months, 3 weeks ago

China is backing off coal power plant approvals after a 2022-23 surge that alarmed climate experts

Associated Press  

BEIJING — Approvals for new coal-fired power plants in China dropped sharply in the first half of this year, according to an analysis released Tuesday, after a flurry of permits in the previous two years raised concern about the government’s commitment to limiting climate change. China leads the world in solar and wind power installations but the government has said …

Nation sets example for green transition
5 months, 2 weeks ago

Nation sets example for green transition

China Daily  

By ZHENG XIN | CHINA DAILY | Updated: 2024-07-26 06:50 China's installed wind and solar power capacity has overtaken coal for the first time, further cementing the country's leading position in the global renewable energy sector, said industry experts. Deng Simeng, a senior analyst of renewables and power research at global consultancy Rystad Energy, said the fact that wind and …

Nation sets example for green transition
5 months, 2 weeks ago

Nation sets example for green transition

China Daily  

China's installed wind and solar power capacity has overtaken coal for the first time, further cementing the country's leading position in the global renewable energy sector, said industry experts. Deng Simeng, a senior analyst of renewables and power research at global consultancy Rystad Energy, said the fact that wind and solar capacity surpassed that of coal by the end of …

Nation sets example for green transition
5 months, 2 weeks ago

Nation sets example for green transition

China Daily  

China's installed wind and solar power capacity has overtaken coal for the first time, further cementing the country's leading position in the global renewable energy sector, said industry experts. Deng Simeng, a senior analyst of renewables and power research at global consultancy Rystad Energy, said the fact that wind and solar capacity surpassed that of coal by the end of …

More than 800 coal plants worldwide could be profitably decommissioned, research group says
6 months, 4 weeks ago

More than 800 coal plants worldwide could be profitably decommissioned, research group says

The Hindu  

More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled to shut down by 2030, more could close if efforts are made to identify opportunities, the Institute for Energy Economics …

Global coal demand expected to decline by 2026: IEA report
1 year ago

Global coal demand expected to decline by 2026: IEA report

The Hindu  

Despite reaching an all-time high in production this year, global coal demand is expected to decline by 2026, said a report by the International Energy Agency. The IEA’s expectations of a decline in coal demand is premised not only on a rise in renewable energy capacity but also a change in global climate. “A turning point for coal is clearly …

Global coal use to reach record high in 2023, energy agency says
1 year, 1 month ago

Global coal use to reach record high in 2023, energy agency says

Al Jazeera  

IEA report says demand is expected to grow in India, China but decline in United States, European Union. Global coal use is expected to reach a record high in 2023 as demand in emerging and developing economies remains strong, the International Energy Agency has said. The demand for coal is seen rising 1.4 percent in 2023, surpassing 8.5 billion tonnes …

Union government asks private firms to ramp up investments in coal-fired plants despite global pressure
1 year, 1 month ago

Union government asks private firms to ramp up investments in coal-fired plants despite global pressure

The Hindu  

The Union government on November 21 asked private firms to ramp up investments in new coal-fired power plants to meet a dramatic rise in electricity demand and bridge nearly 30 gigawatts of additional requirement by 2030, despite international pressure to stop building such facilities. Power and Renewable Energy Minister R. K. Singh, in New Delhi, asked private companies to invest …

Business Matters | Why is the rising cost of coal-fired power plants good news for India?
1 year, 7 months ago

Business Matters | Why is the rising cost of coal-fired power plants good news for India?

The Hindu  

Why is the rising cost of coal-fired power plants good news for India? It said that achieving net zero – which India aims to reach by 2070 – will require adjustments to how people live, work, and move around—and some of these changes will be costly. First, India expects to increase investments in coal-fired power plants to help power economic …

Greenpeace claims China approves significant increase in coal power despite emissions pledge
1 year, 8 months ago

Greenpeace claims China approves significant increase in coal power despite emissions pledge

Firstpost  

The increase in coal-fired power plant licences has raised worries that China may abandon its plans to reach carbon neutrality by 2060 and peak emissions between 2026 and 2030 Beijing, China: Greenpeace claimed Monday that China has permitted a significant increase in coal power so far this year, favouring energy supply over its goal to cut emissions from fossil fuels. …

China approves coal surge despite emissions pledge: Greenpeace
1 year, 8 months ago

China approves coal surge despite emissions pledge: Greenpeace

Al Jazeera  

Approvals of coal-fired power plants fuel concerns that China will backtrack on goal to become carbon neutral by 2060. China has approved a surge in coal power this year, prioritising energy supplies over its pledge to reduce emissions from fossil fuels, according to a report by Greenpeace. The jump in approvals for coal-fired power plants, however, has fuelled concerns that …

Coal capacity climbs worldwide despite promises to slash it
1 year, 9 months ago

Coal capacity climbs worldwide despite promises to slash it

Associated Press  

The capacity to burn coal for power went up in 2022 despite global promises to phase down the fuel that’s the biggest source of planet-warming gases in the atmosphere, a report Wednesday found. The coal fleet grew by 19.5 gigawatts last year, enough to light up around 15 million homes, with nearly all newly commissioned coal projects in China, according …

Close the last three coal-fired power plants by 2025, scientists say
2 years ago

Close the last three coal-fired power plants by 2025, scientists say

NL Times  

Various civil society organizations and scientists are calling on the Cabinet to close the country’s last three coal-fired power stations by 2025 at the latest. That rule took effect on 1 January 2022, but the government suspended it again in June to cut back as much as possible on natural gas and still run the power supply chain. According to …

Report: World’s coal use creeps to new high in 2022
2 years ago

Report: World’s coal use creeps to new high in 2022

Associated Press  

BERLIN — Coal use across the world is set to reach a new record this year amid persistently high demand for the heavily polluting fossil fuel, the International Energy Agency said Friday. The Paris-based agency said in a new report that while coal use grew by only 1.2% in 2022, the increase pushed it to all all-time high of more …

World's coal use creeps to new high in 2022: Report
2 years ago

World's coal use creeps to new high in 2022: Report

The Hindu  

Coal use across the world is set to reach a new record this year amid persistently high demand for the heavily polluting fossil fuel, the International Energy Agency said on Friday. The Paris-based agency said in a new report that while coal use grew by only 1.2% in 2022, the increase pushed it to an all-time high of more than …

LOCALIZE IT: How can world move from cheap but dirty coal?
2 years, 2 months ago

LOCALIZE IT: How can world move from cheap but dirty coal?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy EDITORS/NEWS DIRECTORS: The South Asian …

Will long-term boost to energy capacity stop exit from coal? Debate is red hot
2 years, 7 months ago

Will long-term boost to energy capacity stop exit from coal? Debate is red hot

ABC  

One of Australia's most experienced energy advisers has downplayed concerns that a plan by state and federal energy ministers to overhaul the electricity market could prolong the coal-fired power industry. Key points: WA's former energy coordinator says a capacity market would not wreck Australia's switch to renewable energy In a capacity market, electricity generators are paid to be available when …

Global coal plant capacity dips in 2021
2 years, 8 months ago

Global coal plant capacity dips in 2021

The Hindu  

Global coal-plant capacity under development declined in 2021, according to a report by the Global Energy Monitor, which conducts an annual survey of coal power capacity under development or deployment. After rising in 2020 for the first time since 2015, total coal power capacity under development declined 13% last year, from 525 gigawatts to 457 GW, a record low. The …

Will Ukraine war revitalise coal – world’s dirtiest fossil fuel?
2 years, 9 months ago

Will Ukraine war revitalise coal – world’s dirtiest fossil fuel?

Al Jazeera  

Coal demand began surging in 2021 as gas prices rose, an effect intensified by the Russian invasion of Ukraine, threatening the EU’s legally binding 2030 climate target. The president of last year’s COP26 may have called for it to be “consigned to history” but demand for little-loved coal, the world’s dirtiest fossil fuel, has surged in recent weeks. “Countries that …

For India to Become Coal-free, Start with More Foreign Capital Flow to Green Sectors
3 years, 2 months ago

For India to Become Coal-free, Start with More Foreign Capital Flow to Green Sectors

News 18  

Progress, as the world has designed and defined it, requires material production which, in turn, requires energy. Those cities, the researchers wrote, “located 49 km from the nearest coalfield grew 21.1 percent faster after 1750 than cities located 85 km further away.” It is no wonder then, that in March this year, International Energy Agency chief Fatih Birol said it …

Why phasing out coal completely is easier said than done even though its future is bleak
3 years, 2 months ago

Why phasing out coal completely is easier said than done even though its future is bleak

Firstpost  

Electricity needs are soaring as the world’s population and prosperity increase, and renewables simply aren’t enough to satisfy that growth in demand Glasgow, Scotland: In the run-up to the UN climate talks in Glasgow, host Britain announced one of its goals of the conference was to consign coal to history. Government negotiators in Glasgow wrote and rewrote a paragraph that …

This coal plan offers only half a solution
3 years, 2 months ago

This coal plan offers only half a solution

Live Mint  

The Asian Development Bank and a handful of financial institutions will take an ambitious proposal to end Southeast Asia’s coal addiction to the COP26 climate talks. Indonesia, the Philippines and Vietnam — the three pilot countries — have young power plants, opaque long-term pricing agreements, and do not yet make carbon emissions sufficiently costly. This isn’t one nation in crisis …

Fossil fuel production gap: World will exceed limits of Paris Agreement
3 years, 2 months ago

Fossil fuel production gap: World will exceed limits of Paris Agreement

CNN  

New York CNN Business — Ahead of a critical global climate conference in November, a UN report released Wednesday shows that many of the world’s largest fossil fuel producers are still planning to ramp up production in the coming years, and will be burning far more fossil fuels in 2030 than what is consistent with global climate pledges. “The point …

As India Readies to Dig Up More Coal, Top Energy Body Warns Against Emmissions
3 years, 3 months ago

As India Readies to Dig Up More Coal, Top Energy Body Warns Against Emmissions

News 18  

As India’s power plants grapple with coal shortages and the Centre scrambles to augment production of the dry fuel, one of the world’s leading energy agencies has urged nations to cut greenhouse gas emissions, warning that the world is not on track to meet environmental goals and that new investment in clean energy was needed to jolt the energy system …

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow
3 years, 3 months ago

World's not ready to leave 'king coal' behind, transition to renewable energy sources have been slow

Firstpost  

Global economic recovery means coal demand is likely to surpass its 2019 level and retain its crown of being the leading source of greenhouse gas emissions. While the Covid-19 pandemic initially caused a drop in greenhouse gas emissions as economic activity dropped, the pandemic may not have accelerated the shift to renewables: Renewables boom Renewables are now the number two …

Coal India Warned Govt of Coal Shortage in February, Documents Show
3 years, 4 months ago

Coal India Warned Govt of Coal Shortage in February, Documents Show

News 18  

Coal India’s warned the adviser to the federal power ministry in February of an impending fuel shortage as utilities tapped inventories and curbed purchases despite rising coal-fired power output, documents reviewed by Reuters show. But the company was more worried this year as coal-fired power output picked up with coronavirus-related restrictions easing, while utilities tapped stockpiles instead of buying fresh …

IPCC report raises questions about the future of fossil fuel investments
3 years, 5 months ago

IPCC report raises questions about the future of fossil fuel investments

The Hindu  

Fossil fuels have built the world as we know it today, powering our global economy and generating most of the world's electricity. She pointed out that despite advances in renewable energy, the world still hasn't found a reliable substitute for oil and natural gas, which she has called the "lifeblood of the modern economy." "We're definitely seeing pressure from a …

'Coal is on the way out': G7 declares end to overseas financing
3 years, 7 months ago

'Coal is on the way out': G7 declares end to overseas financing

The Telegraph  

The G7 declared “coal is on the way out” as it committed to ending overseas financing immediately and decarbonising domestic power by the 2030s. Alok Sharma, the president-designate of the Cop26 and a Cabinet member, said the commitment to end all new direct government support for international coal power by the end of 2021 “sends a clear signal to the …

Quitting coal power ‘single most important’ step in six months before Cop26, says IEA chief
3 years, 8 months ago

Quitting coal power ‘single most important’ step in six months before Cop26, says IEA chief

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Quitting coal-fired power is the “single most important” step the world must take as it …

India may build new coal plants due to low cost despite climate change
3 years, 8 months ago

India may build new coal plants due to low cost despite climate change

The Hindu  

India may build new coal-fired power plants as they generate the cheapest power, according to a draft electricity policy document seen by Reuters, despite growing calls from environmentalists to deter use of coal. But a 28-page February draft of the National Electricity Policy 2021 — which has not been made public — showed India may add new coal-fired capacity, though …

Opinion: Bloomberg and Timmermans: Ending global coal subsidies will save lives
3 years, 9 months ago

Opinion: Bloomberg and Timmermans: Ending global coal subsidies will save lives

CNN  

Editor’s Note: Michael R. Bloomberg is the founder of Bloomberg LP and served as mayor of New York City from 2002 to 2013. Air pollution — to which coal contributes significantly — causes 400,000 premature deaths a year in the EU alone, and 5% to 10% of all annual premature deaths in the United States. Coal plant closures have continued …

Renewable energy boom could force coal power to close early, says new report
3 years, 10 months ago

Renewable energy boom could force coal power to close early, says new report

ABC  

An analysis of Australia's energy market has found a number of the nation's coal-fired power stations could be financially unviable by 2025 and at least one may be forced to close early. Key points: Solar and wind plants will add 70,000GWh to the grid by 2025 Coal-fired generation will drop by 28 per cent Industry acknowledges increasing pressure The joint …

The World’s Long, Messy Breakup With Coal
3 years, 11 months ago

The World’s Long, Messy Breakup With Coal

Huff Post  

Coal had a bad year last year. Despite countries’ pledges to slash carbon emissions to tackle climate change, coal is still playing an important role for a handful of countries, notably China, and new coal projects are lined up around the globe. Back in May 2019, the United Nations chief António Guterres said: “We must stop building new coal plants …

Solar power could be ‘the new king’ as global electricity demand grows
4 years, 3 months ago

Solar power could be ‘the new king’ as global electricity demand grows

CNN  

London CNN Business — Renewable energy, led by solar power, could make up 80% of the growth in electricity generation over the next decade, according to a report published Tuesday. Solar performs even more strongly in the IEA’s“Sustainable Development Scenario,” in which a surge in clean energy policies and investment puts the world on track to reach the goals of …

Ditching coal for clean energy such as wind and solar 'will save money by 2022', report predicts
4 years, 6 months ago

Ditching coal for clean energy such as wind and solar 'will save money by 2022', report predicts

Daily Mail  

Coal power stations are polluting and expensive, and the falling cost of clean energy is pushing the dirty fossil fuel to the brink of extinction, a report has found. Analysis showed installing environmentally-friendly energy sources, such as wind and solar farms, is cheaper than the running costs of 39 per cent of global coal stations. Solar and wind produced 11.45 …

IEA World Energy Report: Global energy investment could fall by $400 billion this year
4 years, 7 months ago

IEA World Energy Report: Global energy investment could fall by $400 billion this year

CNN  

London CNN Business — The coronavirus pandemic may have slashed global carbon emissions but a historic slump in global energy investment this year could threaten climate goals in the longer term, according to a new report. The International Energy Agency said Wednesday that global investment could plunge by a record $400 billion this year, with spending expected to plummet across …

Emissions from coal power see 'biggest fall' in decades, report finds
4 years, 10 months ago

Emissions from coal power see 'biggest fall' in decades, report finds

Daily Mail  

Emissions from coal power saw the 'biggest fall' in decades last year as electricity generation switched toward solar and wind, a report has found. The global study by climate think tank Ember found that electricity generation from coal fell 3 per cent in 2019 — leading to a 2 per cent reduction in carbon emissions. Scroll down for video Emissions …

Here’s why global CO2 emissions fell by the most since 1990
4 years, 10 months ago

Here’s why global CO2 emissions fell by the most since 1990

Al Jazeera  

A steep drop in the use of coal to generate power led to the fall in emissions last year, a new study shows. Global carbon dioxide emissions from the power sector fell by 2 percent last year, the biggest fall since at least 1990, owing to reduced coal usage in Europe and the United States, according to a study published …

Power bills to fall in next two years as political stoush over coal continues
4 years, 11 months ago

Power bills to fall in next two years as political stoush over coal continues

ABC  

It might surprise you after years of spiralling price rises, but your electricity bill is set to fall. Key points: New figures from AEMO show the spot price for electricity fell almost 20 per cent in the last quarter of 2019 There have been periods when generators have had to pay to generate electricity, due to solar power flooding into …

The Lost Decade: How We Awoke To Climate Change Only To Squander Every Chance To Act
5 years ago

The Lost Decade: How We Awoke To Climate Change Only To Squander Every Chance To Act

Huff Post  

The scientists and experts trying to communicate the threat of climate change, however, “have been opposed for years,” says Mann, “by the single most-organized, well-funded disinformation campaign in the history of human civilization: The fossil fuel industry’s concerted effort to confuse the public and policymakers about the reality and threat of human-caused climate change.” “In the absence of the billions …

Coal isn’t dying. It moved to Asia
5 years ago

Coal isn’t dying. It moved to Asia

Salon  

In the United States, coal, that supervillain of fossil-fuels, is in a death spiral. A report out Tuesday from the International Energy Association reveals the extent to which coal has provided the power for Asian countries like Indonesia and Vietnam as their economic growth pulls millions out of poverty. The report shows that natural gas and renewables are killing so …

New coal plants rising in China despite Beijing’s big climate pledges
5 years, 3 months ago

New coal plants rising in China despite Beijing’s big climate pledges

CNN  

Inner Mongolia, China CNN — On the coal-rich plains of Inner Mongolia, thick white smoke curls from the huge chimney of a thermal coal power plant which the Chinese Communist Party had pledged to stop constructing two years ago. The order came from China’s National Energy Administration as part of a government plan to eliminate millions of tons of “overcapacity” …

Coal power is dying. The market has spoken
5 years, 3 months ago

Coal power is dying. The market has spoken

CNN  

New York CNN Business — President Donald Trump has gutted regulations on the coal industry, falsely claimed that windmills cause cancer and installed a former coal lobbyist to lead the EPA. The economics have been front and center on this transition.” Duke Energy CEO Lynn Good “It’s hard to see any scenario where coal rebounds,” said Joe Aldina, manager of …

The world will get half its power from wind, solar by 2050
5 years, 6 months ago

The world will get half its power from wind, solar by 2050

Live Mint  

Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummet. Wind, solar and batteries are poised to enable the power sector to meet its share of emission cuts required under the Paris climate agreement, at least until 2030, according to BNEF. By 2050, solar and wind will …

America’s renewable energy set to surpass coal for the first month ever
5 years, 8 months ago

America’s renewable energy set to surpass coal for the first month ever

CNN  

New York CNN Business — America’s clean energy revolution is on the verge of a tipping point. The renewable energy sector is projected to generate more electricity than coal during the month of April, according to a recent report published by the Institute for Energy Economics and Financial Analysis. “The transition that’s going on in the electric sector in the …

More bad news for coal: Wind and solar are getting cheaper
5 years, 9 months ago

More bad news for coal: Wind and solar are getting cheaper

CNN  

New York CNN Business — The simple laws of economics threaten to doom America’s remaining coal power plants. Wind and solar costs have plunged so rapidly that 74% of the US coal fleet could be phased out for renewable energy – and still save customers money, according to a report released on Monday by Energy Innovation, a nonpartisan think tank. …

Discover Related