Phaseout of coal power far too slow to avoid ‘climate chaos’, report finds
(The Guardian, 6 Apr 2023) World needs to stop building new plants and close existing ones at almost five times the current rate to meet Paris agreement goals.
The world needs to close coal power plants at almost five times the present rate, as well as stop building new ones, in order to meet the goals of the Paris climate agreement, according to a report.
Global Energy Monitor, a San Francisco-based NGO, said insufficient progress was being made to avoid “climate chaos” and that plans for a sharp increase in the number of coal-fired plants in China would require even steeper cuts to the rest of the global fleet to meet the world’s climate goals.
In order to meet the Paris climate agreement, all coal-fired plants need to be closed by 2040 and no new ones can come online.
Developed economies are expected to shut their plants a decade earlier than the global phaseout. This will require countries in the Organisation for Economic Co-operation and Development to close 60 gigawatts of coal-power capacityeach year until 2030 – about four-and-a-half times the amount recorded last year. Non-OECD countries will need to close 91GW of coal power capacity every year until 2040.
The Guardian, 6 Apr 2023: Phaseout of coal power far too slow to avoid ‘climate chaos’, report finds