Investment in coal power is increasing despite the climate crisis

Investment in coal power is increasing despite the climate crisis

The German environmental organization Urgewald has together with several other organizations established an extensive database that analyzes the use of coal in energy production.

According to the Global Coal Exit List, today’s coal power plants have a total capacity of 2,126 gigawatts, and this is 11 percent more than in 2015, when the Paris Agreement stated that the use of coal had to be phased out to slow down global warming.

Most in China

Last year alone, capacity increased by 30 gigawatts, which is more than all of Poland’s coal-fired power plants combined.

A large proportion of the new coal-fired power plants are being built in China, which, rightly enough, is also investing heavily in renewable energy.

– Nine years after the Paris Agreement was signed, the production of coal has reached new heights, and the number of coal-fired power plants in the world is increasing, says Urgewald’s manager Heffa Schücking.

During last year’s climate summit in Dubai, more than 130 countries signed a declaration to phase out the use of coal-fired power, but the results are far from over, she notes.

Get plans

According to Urgewald, fewer than 5 per cent of the coal companies in their database have so far drawn up plans for phasing out.

The International Energy Agency (IEA) and the UN have determined that the industrialized countries must phase out the use of coal power within a few years.

The other countries must do the same by 2040 if the Paris Agreement’s goal of limiting global warming to 1.5 degrees is to be achieved.

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**Interview⁤ with Heffa ‍Schücking, Manager at Urgewald**

**Interviewer:** Thank ‍you for joining us, Heffa. Your recent work with the Global Coal Exit List has highlighted some alarming trends ‌in coal energy production. Can you ​elaborate on the significance of the current capacity of coal power plants worldwide?

**Heffa Schücking:** Certainly. As of​ now, we have a ​total capacity of 2,126 gigawatts from coal-fired plants, which is 11 percent higher than in⁢ 2015, the year the ‌Paris Agreement‍ was⁤ established. This increase runs counter to the commitments made under the agreement to reduce coal usage⁤ to mitigate global warming.

**Interviewer:** That’s shocking, especially considering ⁣the climate commitments. ⁤It seems that, despite the pledges made by over ⁢130 countries during last year’s climate summit, ​action on phasing out coal⁤ is lacking. What are your thoughts on the pace of this transition?

**Heffa Schücking:** The transition is painfully ​slow. Less ⁢than 5 percent of coal companies have devised plans⁢ to phase out their⁤ operations. Industrialized nations are urged to move away from coal in the next few years, while ​others must do so by 2040 to meet ⁤the climate goals. Unfortunately, the reality is⁤ that new coal projects are still being initiated, particularly in countries like China.

**Interviewer:** Speaking‌ of ‌China, it⁣ seems to be both investing heavily ⁣in coal ⁣and renewable energy simultaneously. How does this ‍dual approach fit into global climate strategies?

**Heffa Schücking:** It’s a bit of a contradiction. While it’s encouraging to ​see investments in renewable energy, the continued expansion of coal contradicts commitments to reducing emissions. This highlights a significant challenge: how do we balance immediate energy needs with long-term⁤ climate goals?

**Interviewer:** That raises an interesting debate. ‌Given these ⁤trends, do you think the global community can genuinely achieve the‍ goals of the Paris Agreement? Or are we heading‌ toward a climate crisis?

**Heffa Schücking:** The situation is precarious.⁤ The longer ‍we delay the phase-out‌ of‍ coal, the more difficult it becomes to meet climate targets. It’s imperative for governments and companies to act decisively now—otherwise, ​we truly risk a climate⁣ crisis that could have devastating consequences for future generations.

**Interviewer:**⁣ Thank you, Heffa. You’ve ​painted a⁤ clear ⁣picture of the challenges ahead. To our readers, what do you think⁣ should‌ be⁢ done ⁤to confront this inertia surrounding coal use?⁣ Are the promises made at international summits enough, or do we need more concrete actions and ​accountability from ⁤nations and corporations?​ Let’s discuss.

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