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Leading financial institutions setting divestment trend
Feb 15, 2019 (IEEFA Japan): ITOCHU of Japan has announced it is exiting from developing new coal-fired power plants as well as thermal coal mines to address the impact of climate change, and will continue to divest its existing thermal coal mine investments in Australia and Indonesia. IEEFA sees this as a major policy pivot […]
Tim Buckley
Precedent set in measuring the community cost of carbon emissions
The NSW Land and Environment Court refused development consent for a new open cut coking coal mine in New South Wales’ Gloucester Valley on 8 February 2019, citing the mine’s likely contribution to climate change as a key reason. Gloucester Resources Limited (GRL) had sought development consent for the Rocky Hill Coal Project to produce […]
IEEFA
Bloomberg: South Africa’s debt-laden power utility raced to stabilize the grid this week by resorting to the most intense supply cuts in four years. Eskom Holdings SOC Ltd. implemented blackouts for a third day on Tuesday, removing 3,000 megawatts from the system after so-called stage 4 rotational power cuts, or 4,000 megawatts, on Monday as […]
IEEFA
The Jakarta Post: The camp of presidential candidate Prabowo Subianto has expressed the wish to cut the use of coal and to revamp the 35,000 megawatt (MW) electricity program if Prabowo and running mate Sandiaga Uno are elected in the April election. Campaigner Ramson Siagian said recently that Prabowo wanted coal-fired power plants (PLTU) to […]
Simon Nicholas
Chinese funding responsible for more than a quarter of all new coal plants outside its borders
SYDNEY—At the first ever ‘Belt and Road’ forum hosted in Beijing in 2017, President Xi pledged the US$900 billion infrastructure project would ‘seize new opportunities… and achieve green and low-carbon development.’ Yet as analysis this month demonstrated, Chinese funding is responsible for more than a quarter of all new coal plants outside its borders, many […]
IEEFA
Reuters: Developers have lost a court appeal to build a coal mine in Australia’s Hunter Valley over its potentially “dire” environmental impact in the country’s first legal review of a coal mine project to hear evidence from a climate scientist. In the landmark ruling, Justice Brian Preston on Friday denied the appeal on the Rocky […]
IEEFA
Reuters: EDF Energy, part of French utility EDF, will cease power generation at its Cottam coal-fired power plant in Nottinghamshire, Britain, on Sept. 30, as it will no longer be economically viable to run, the company said on Thursday. The 2-gigawatt (GW) plant has been running for more than 50 years, but was designed to […]
Tim Buckley
IEEFA supports new bill prohibiting the opening up of thermal coal mining in Queensland’s Galilee Basin
SYDNEY-Australia continues to blindly court local and multinational mining companies with one of the largest untapped thermal coal deposits in the world, despite the global pipeline of new coal-fired power plants continuing to shrink and global warming becoming blatantly obvious due to extreme record-breaking weather events. Beneath the Galilee Basin in Central Queensland, Australia, is […]
IEEFA
Reuters: German Chancellor Angela Merkel said on Tuesday that her country would withdraw from coal-fired power production by 2038, showing her support for the deadline recommended by a government-appointed commission. The so-called coal commission said last month that Germany should shut down all of its coal-fired power plants by 2038 at the latest and proposed […]
IEEFA
Reuters: Japan’s Idemitsu Kosan, Kyushu Electric Power and Tokyo Gas said on Thursday they have given up their plan to build a 2 gigawatt (GW) coal-fired power station in Chiba, near Tokyo, as it would not be economically feasible. The move follows a similar decision by Chugoku Electric Power and JFE Steel, a unit of […]
IEEFA Australia: Minerals Council report overstates foreign market’s thermal coal import needs to 2030
Forecast is based on unrealistic estimates India's coal consumptionJanuary 30, 2019 (IEEFA Sydney)—Representing a critical risk for Australian thermal coal exports, an analysis of the Mineral Council of Australia’s recent report methodology shows Australia’s ambition for India as a huge growth export market is both unrealistic and systematically overstates India’s future need for imported coal. In June 2018 The Minerals Council of Australia […]