In 2015, the Paris Agreement’s new goal of limiting warming to 1.5°C was at risk of being dead on arrival because the world was on the verge of a coal-plant-building boom.
Fortunately, the boom never took off. Since then, the amount of new #coal power in development has fallen dramatically from 1,496 GW to 578 GW. Of the new coal plants in development in 2015, 56% were canceled by 2023.
A new article from the #SystemsChangeLab consortium, which Climate Action Tracker and NewClimate Institute are part of, breaks down the reasons for this transformative change and explains how the world can speed up the cancelation of the remaining coal project pipeline ⤵
🔗 https://bit.ly/3LfaOaJ
New article from our #SystemsChangeLab consortium author Joel Jaeger looks at the history of coal plant cancellations in China, India and Vietnam, finding that there have been encouraging reductions in coal project pipelines around the world:
🌏 The top 10 countries with the most coal in development — which are all located in Asia — have decreased their coal project pipeline since 2015.
🌍 9 African countries had plans in 2015 to build their first ever coal plants, but none of these had been built by the end of 2023.
🌎 0 countries in Europe or the Americas increased their coal capacity by more than one gigawatt over that time period.
See what lessons can be learned to speed up the cancellation of remaining #coal projects 🔗 https://bit.ly/3LfaOaJ
WRI Climate World Resources Institute Bezos Earth Fund NewClimate Institute Climate Analytics