The report “Boom and Bust 2021: Tracking The Global Coal Plant Pipeline” released on April 6, 2021.
This is the seventh annual survey of the global coal plant pipeline, highlighting that a steep increase in coal plant development in China in 2020 offset a retreat from coal in the rest of the world, resulting in the first increase in global coal capacity development since 2015.
This report is headed by Global Energy Monitor, with co-authors that include the Sierra Club, the Centre for Research on Energy and Clean Air (CREA), Climate Risk Horizons, GreenID, and Ekosfer.
The following are some points from the report related to Japan:
- After China’s 38.4 GW of new coal plants, the countries with the second-most commissionings in 2020 were India and Japan, each with 2.0 GW.
- Financing for coal projects is becoming more difficult to secure as investors and companies retreat. One of Japan’s major trading houses, Mitsubishi Corporation, withdrew from Vietnam’s Vinh Tan 3 coal plant project.
- The OECD countries with the largest coal power capacity projected for 2030 are the U.S., Turkey, Japan, South Korea, Poland, Germany, and Australia. Out of these, Turkey and Japan are still planning a sizable expansion of coal power.
- Certain restrictions on coal plant financing have been enacted already by 18 Japanese financial institutions, and in Japan the pace of progress is increasing.
- In March 2021, the governor of the Japan Bank for International Cooperation (JBIC), Tadashi Maeda, announced that the state-owned financial institution will no longer provide funding for overseas coal plant projects (this is excluding the Vung Ang-2 coal plant in Vietnam).
- Japan still supporting/considering to support the Vung Ang 2 power station in Vietnam, the Indramayu power station in Indonesia, and the second phase of the Matarbari power station in Bangladesh.
Report and PR
Written/Published by : Global Energy Monitor and other co-authors.
Published : April 6, 2021