Some 1,175 gigawatts of new coal projects have been cancelled since 2015, an amount greater than the current coal capacity of China, according to a new report from climate think tank E3G.
Some 1,175 gigawatts of new coal projects have been cancelled since 2015, an amount greater than the current coal capacity of China, according to a new report from climate think tank E3G.
Falling costs of renewables have made coal projects less competitive, the report said. Additionally, since 2015, the year the Paris Agreement was adopted, 44 governments have committed to no new coal power. Another 40 countries are well positioned to make the same pledge as they have no new coal projects in pre-construction, the authors wrote.
“The collapse of the global coal pipeline and the rise of commitments to ‘no new coal’ are progressing hand in hand,” Chris Littlecott, associate director at E3G and lead author of the report, said in a statement. “Governments can now act with confidence to commit to ‘no new coal.’”
Read more at: Yale Environment 360
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