November 11, 2016 Read More →

On the Blogs: Climate Pact Will Drive Decline of Coal-Fired Electricity in Europe, China and India

Ken Silverstein for Environmental Leader:

It’s all in the context of the Paris accord, signed by 191 countries in December 2015. Last week, it was ratified in Marrakesh.

Under the agreement, countries will submit new blueprints every five years. The goal remains to limit global temperature increases to no more than 2 degrees Celsius by mid Century and reduce net greenhouse gas emissions to near zero by 2100. While the developed world will take the lead, all countries are on board to have notable results by 2030.

“This is a pact that is difficult to translate to the level of individual power plants in individual countries because of its multilateral nature,” says Gerard Wynn, of the Institute for Energy Economics and Financial Analysis, in his blog. “But it’s safe to say the Paris Agreement probably makes less likely a return to fortune of coal-fired power plants, whose value has already fallen in Europe.”

“India and China will be importing less coal for economic and security reasons,” adds Tom Sanzillo, director of finance for the Institute for Energy Economics, in an earlier phone interview. “They don’t want to be dependent on anyone from the outside. It has negative fiscal and monetary consequences.”

Full item: China’s Coal Use Will Rise but It is Still Less Than Historic Highs

Share This

Comments are closed.