Coal phase-out

Coal phase-out is an environmental policy intended to stop using the combustion of coal in coal-burning power plants, and is part of fossil fuel phase-out. Coal is the most carbon-intensive fossil fuel, therefore phasing it out is critical to limiting climate change as laid out in the Paris Climate Agreement. The International Energy Agency (IEA) estimates that coal is responsible for over 30% of the global average temperature increase above pre-industrial levels. Some countries in the Powering Past Coal Alliance have already stopped.

The annual amount of coal plant capacity being retired increased into the mid-2010s. However, the rate of retirement has since stalled, and global coal phase-out is not yet compatible with the goals of the Paris Climate Agreement.

In parallel with retirement of some coal plant capacity, other coal plants are still being added, though the annual amount of added capacity has been declining since the 2010s.

China and India burn a lot of coal. But the only significant funding for new plants is for coal power in China. The health and environmental benefits of coal phase-out, such as limiting biodiversity loss and respiratory diseases, are greater than the cost. Developed countries may part finance the phase out for developing countries through the Just Energy Transition Partnership, provided they do not build any more coal plants. One major intergovernmental organisation (the G7) committed in 2021 to end support for coal-fired power stations within the year. It has been estimated that coal phase-out could benefit society by over 1% of GDP each year to the end of the 21st century, so economists have suggested a Coasean bargain in which developed countries help finance the coal phase-out of developing countries.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.