Further major Energy Solution Providers have announced their intentions of withdrawing from Coal.
Toshiba will stop taking orders for coal-fired power plants in line with growing global trends toward reducing carbon emissions. Toshiba holds 11% of the global thermal-power generation market, excluding China. This includes building power plants, producing steam turbines and providing maintenance. While the company will stop accepting new orders for coal-burning plants, it will build 10 stations under existing orders in Japan, Vietnam and other countries.
Financial companies may feel they are being very noble and argue, perhaps realistically, “why would any debt or equity capital provider fund a high emission, highly polluting new coal-fired power plant at double the cost of deflationary, domestic renewables?” was raised as a question by IEEFA.