The researchers said that because six countries account for more than 80% of the new coal projects planned in the world, winning the pledge to cancel these projects may help the November COP26 United Nations climate summit "to put coal power into history." A key goal of the organizer. According to a report released by think tank E3G,

Since the signing of the Paris Agreement in 2015, the world’s proposed new coal power installed capacity has fallen by 76%, and 44 countries have agreed to terminate new projects. However, Asia is still at the center of the remaining pipelines in the world, which means that only six countries—China, India, Vietnam, Indonesia, Turkey, and Bangladesh—can dismantle more than four-fifths of planned projects before construction.

Stopping the use of coal, the most polluting fossil fuel, to generate electricity has always been the focus of climate change activists, leading to the rapid depletion of funds and insurance for new projects. The rapid end of coal use is considered to be critical to the global goal of controlling global warming "well below" 2 degrees Celsius, ideally 1.5 degrees Celsius, and avoiding rapidly deteriorating climate threats (such as more severe storms, floods, wildfires, and crop failures). ) Is essential. However, according to the International Energy Agency, coal is still the backbone of Asian power generation, accounting for 75% of global coal demand.

Countries with large coal reserves or fuel-dependent energy systems have been slowly abandoning it, partly because of the cost of abandoning still-operating factories and mines or unwilling to violate promises to new factories. China is still the main funder of new coal energy, although falling solar and wind energy prices make green energy more competitive than coal in most parts of the world.

Keywords: new energy, overseas engineering, international engineering construction, foreign engineering construction news

"Compared with renewable energy, the economics of coal have become increasingly uncompetitive, and the risk of stranded assets has also increased." Report author and E3G associate director Chris Littlecott said.Editor/XuNing