March 6, 2019 Read More →

Pourquoi le monde est toujours accor au charbon

Le Monde ($):

Apparently, the good news is multiplying for the climate, at least as far as coal is concerned. At the end of February, Anglo-Swiss mining giant Glencore announced that from now on it was going to limit its investments in the sector. In Germany, the world’s fifth largest coal consumer, a government commission predicted the end of coal-fired electricity by 2038. Even in the United States, where Donald Trump is doing everything to support the “King Coal” industry, production continues to decline.

However, in 2017, global coal consumption is on the rise again, according to data from the International Energy Agency (IEA). Every indicator confirms the same trend for 2018.  In reality, coal’s share of global electricity production (38%) has not changed in 30 years. And the fact that global consumption continues to explode: “It is the most striking and most worrisome number in our annual global energy report,” underlined Spencer Dale, chief economist for petroleum major BP.

In addition to its negative impact on air quality, coal is by far the electricity producer with the highest level of CO2 emissions with the greatest impact on climate change, contributing 40% of total [greenhouse gas] emissions. In other words, to limit the damage, and to meet the demands of the Paris Agreement of 2015, the world must find a way to exit coal, without delay.

In China, the situation is paradoxical: Beijing is the leading global investor in renewable energy, but that has not been enough to abate the Chinese economy’s appetite for electricity. While the country is developing wind and solar at great speed, it continues to build new coal plants.

In spite of Beijing’s national commitments [to reduce coal consumption], the country is exporting its technological knowledge across the Asia region where Chinese companies are building coal plants galore with the backing of banks and investors. If one is to go by a report by IEEFA (Institute for Energy Economics and Financial Analysis) Hong Kong published at the end of January, Chinese companies account for one-fourth of the coal-fired plants under construction globally. “That is more than US$36 billion [€31.6 billion] invested in 32 countries,” specified Melissa Brown, one of the authors of the report.

More ($): Pourquoi le monde est toujours accor au charbon

Posted in: IEEFA In the News

Comments are closed.