【Report】Boom And Bust Coal 2022
Global Energy Monitor and co-author organizations have released “Boom And Bust Coal 2022”, their eighth annual survey of the coal plant pipeline.
The report reveals that the world still has more than 2,400 coal-fired power plants under operation, at least 189 plants under construction, and 296 new plants being planned. Although 2021 has shown a move to limit coal-fired power generation as well as a reduction in the generation capacity of coal-fired power plants under development, the world is still a far way from exiting from coal-fired power generation.
Key points of the report:
- The total coal capacity under development increased in 2020, and then declined 13% in 2021.
- There has been a 77% decrease in coal plant capacity in the pre-construction phase since the Paris Agreement was signed in 2015.
- 34 countries have new coal-fired plants under consideration. Although this is down from 41 countries in 2021, the operating coal fleet grew in 2021 by a net 18.2 GW, with closures slowing as the post-Corona recovery took hold.
- Despite being a member of the OECD, six countries are still considering new coal: Japan, the US, Australia, Poland, Mexico, and Turkey.
- China, South Korea, and Japan all pledged to end public support for new international coal plants. With these pledges, in principle there is no international public funds left to support new coal-fired power plants, but these three countries continue to support coal-fired power.
The adoption of the Glasgow Climate Pact at COP26 in November 2021, which stipulates the phase-down of coal-fired power plants, is one step forward. However, while many countries are proceeding with the phase-out of coal-fired power generation by setting clear target years, Japan has not yet shown any commitment to phase-out, or even developed a pathway for phase-down.
Dramatic change, with clear goals set, is crucial to phase out coal-fired power by 2030.
Written / Published by :
Global Energy Monitor with co-authors (the Centre for Research on Energy and Clean Air, E3G, Sierra Club, Solutions for Our Climate, Kiko Network, Climate Action Network Europe, Legal Initiative For Forest And Environment, Bangladesh Working Group on External Debt, Bangladesh Poribesh Andolon, and Waterkeepers Bangladesh)
Published : April 26, 2022