Group items tagged

Phasing out unprofitable coal plants could save U.S. consumers $10 billion a year by 2021 and boost the country's competitiveness, according to a new report by Carbon Tracker launched today. No Country for Coal Gen: Below 2°C and Regulatory Risk for U.S. Coal Power Owners is the first study to look at the economics of each U.S. coal power plant and provide investors with a tool to support a rational closure program to keep global warming below 2 C°.

An alliance of 27 countries and states - including the UK, Canada, and Mexico - have pledged to phase out coal power generation by 2030. The alliance has plans to grow to at least 50 members by late-2018.

Coal production is not just declining. It's falling off a cliff - and it's barely a third of what it was just six years ago, according to the U.S. Energy Information Administration (EIA). The worst is yet to come, as the EIA predicts 2016 will be the biggest year-on decline for coal … ever.

In a dystopian portrayal of the future, the landscape is rife with fires, rising seas, and thick clouds billowing from power plant smokestacks; humans must wear gas masks for their own survival. This apocalyptic vision is captured in a series of photos featuring 8 popular Vietnamese singers, actors and dance artists as part of a new anti-coal campaign. Pollution from coal-fired power plants already causes an estimated 4,300 premature deaths in Vietnam annually, yet the country has the third largest pipeline of new coal plants in the world - behind only China and India.

Carbon Brief analysis shows the UK's CO2 emissions fell by 5.8% in 2016, after a record 52% drop in coal use.

Carbon emissions in the UK are down to 420 million tons annually, or about what the country emitted more than 120 years ago, according to a report from Carbon Brief. A 52% decrease in coal consumption during 2016 fueled an overall decline in carbon emissions of 5.8% for the year.

Britain is phasing out its coal-burning power plants, with the last one slated to be shuttered by 2025, if not sooner. It is a startling development for the nation that founded an industrial revolution powered by coal.

South Korea's newly elected president, Moon Jae-in, has ordered the temporary closure of 10 coal power plants for the entire month of June to help reduce air pollution in the country. President Moon Jae-in reportedly stated that he plans to phase these coal plants out over his five-year term.

New data released by the U.S. Energy Information Administration also highlighted another potential contradiction: Virtually every state suing to block the Clean Power Plan has itself shifted toward burning less coal to generate the electricity its residents need since the year 2007 - in some cases by very large amounts.

JPMorgan Chase & Co. will no longer provide project financing for new coalmines worldwide or new coal fired power generation plants in high-income OECD countries.

The Paris Agreement and the global divestment campaign has secured one of its biggest victories to date, after banking giant Deutsche Bank announced it would halt investment in new coal projects in line with its commitment to the international climate change treaty.

Southern Co.'s coal plants are among the biggest carbon emitters in the U.S., but the company is about to build a new carbon-capture plant that could play a vital role in slowing climate change. The Mississippi plant, along with another in Canada, will capture carbon emissions and pump them into depleted oil reservoirs

The Obama administration's rule leans heavily on renewable energy to meet its goal to reduce carbon dioxide emissions by 32 percent by 2030, which is an increase of 2 percentage points from the draft it released in the summer of 2014. While states have two additional years until they must begin cutting emissions - 2022 instead of 2020 - they are expected to start devising ways to improve their environments, which will focus on shifting to cleaner burning fuels and away from carbon-heavy ones. "The trend we are on will get us there," says Rob Gramlich, senior vice president for government affairs at the American Wind Energy Association, in a phone interview. "As the nation moves from coal to gas, and as it adds more wind, solar and energy efficiency, we will reach that 32 percent target."

The Obama administration's Clean Power Plan rule will require states to begin cutting carbon emissions by 2022. "The trend we are on will get us there. As the nation moves from coal to gas, and as it adds more wind, solar and energy efficiency, we will reach that 32% target," said Rob Gramlich of the American Wind Energy Association. To comply, states can choose among options including boosting renewables, improving heat rates for coal-fired steam generators, and using more nuclear energy and lower-emitting natural gas. Forbes (8/4) 

Public relations firm Edelman, in an internal note, says it will no longer do business with producers of coal or organizations that seek to discredit climate change. "When you are trying in some way to obfuscate the truth or use misinformation and half-truths, that is what we would consider getting into the work of greenwashing, and that is something we would never propose or work we would support our client doing," said Michael Stewart, president and CEO for Europe. 

China's latest clean air provision includes the outright banning of all usage and sales of coal in Beijing by the end of 2020.

China is burning as much as 17% more coal than had previously been thought, adding about a billion tons a year to its national carbon footprint. The new figure is troubling for climatologists but could make it easier to create momentum for changes in China's energy and climate policies. 

Finland approves ban on coal for energy use from 2029

A coalition of European energy companies from 26 European Union member nations have jointly pledged to phase out investments in new coal power plants after 2020. Poland and Greece are the only EU nations absent from the pledge.

Britain has gone a week without using coal to generate electricity for the first time since Queen Victoria was on the throne, in a landmark moment in the transition away from the heavily polluting fuel.

The European Commission released "Clean Energy for All Europeans," a new clean energy package that lays out plans to help the EU meet its climate targets under the Paris Agreement. The plans outlined in the package include cutting carbon emissions by 40% and increasing energy efficiency by 30% by 2030, phasing out coal subsidies, and more.

Guangdong, the province in southern China, has posted a plan to reduce dependence on coal and oil from 73% of energy use in 2010 to 60.6% next year. The move is part of the region's effort to reduce its carbon emissions per unit of gross domestic product by almost a fifth from 2010 levels by 2015