Coal accounts for 80% of new coal power investment in five Asian countries

According to a report, five Asian countries are jeopardizing global climate ambitions by investing in 80% of the world’s planned new coal plants.

Carbon Tracker, a financial think tank, has found that China, India, Indonesia, Japan and Vietnam plan to build more than 600 units of coal, although renewable energy is cheaper than most coal mills.

Investing in one of the most harmful energy sources could generate a total of 300 gigawatts of energy – giving the UK more than three times the power. Despite calls from meteorologists at the United Nations to cancel all new coal plants.

Catherine Helen Brand van der Neen, author of the report, said: “These last strongholds of coal power are swimming against the tide, when renewables offer a cheap solution that supports global climate goals. Investors should refrain from new coal projects, many of which will make negative profits from the beginning.

While Asia is raising money for coal plants, countries in the developed world are stepping up plans to eliminate them. The UK government has announced plans to push ahead with a deadline for decommissioning coal plants From one year ago, to 2024.

The new deadline for coal power, which generated 1.5% of electricity in the last quarter of 2020, has received a tacit response from the Green Group as it has since moved to Nottinghamshire in Rt Cliff-on-Sawar, a single coal plant. Will be forced to close The West Burton A power plant is closed in September 2022.

Alok Sharma, who has been named president of the COP 26 UN climate talks in Glasgow later this year, said the government’s “decisive move” would send a clear signal to friends around the world that clean energy is moving forward. There is a way.

“The impact of this initiative will be far greater when we bring the world with us, as well as our support for the transfer of clean and equitable energy in the negotiations on the path to COP 26,” he said. Desire is central. “

According to the report, China is the world’s leading coal investor with plans to add another 187 gigawatts to its existing fleet of 1,100 gigawatts of coal-fired power plants. Carbon Tracker claims that solar and wind farms can already generate far cheaper electricity than 85% of the country’s coal-fired coal plants, and will be able to eliminate all coal-fired power by 2024.

In India, the world’s second-largest coal-fired power producer, and in Indonesia, renewable energy will be able to run out of coal by 2024, while in Japan and Vietnam, coal will be less economical than renewable energy by 2022. ۔


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