- G7 energy ministers have tentatively agreed to a target date of 2035 to shut down their coal-powered power plants.
- The deal was announced by Andrew Bowie, the UK’s Minister for Nuclear and Renewables, at the group’s climate talks in Turin, Italy.
According to the International Energy Agency (IEA), there are around 8500 coal power plants in operation worldwide. At more than 2000 gigawatts of capacity they generate over a third of all electricity. Coal power plants produce a fifth of global greenhouse gas emissions – more than any other single source. And while cutting emissions has become a key global priority, more than 300 new coal power plants are slated to come online in the coming five years. Those that do will add materially to emissions – unless action is taken.
Most of the world’s existing coal-fired power generation is in emerging and developing economies. For example, roughly 60 percent of the electricity generated in China, India and Indonesia is from coal. Similarly, almost 90 percent of the new coal power plants being developed worldwide are also in emerging and developing economies, mostly in Asia. By contrast, coal consumption in advanced economies peaked in 2007, although it still makes up 20 percent of the electricity mix in these countries on average.
Author: Bryan Groenendaal
