newsFrom EcoWatch
Summary:
- Global Energy Monitor‘s annual survey of the global coal fleet reveals a 2% increase in global operating coal capacity in 2023, primarily driven by China.
- Despite renewed coal capacity growth, new retirement plans and phaseout commitments are emerging at a slower rate than desired.
- The majority of countries are moving towards a “no new coal” milestone, with various nations making significant progress in phasing out coal power to align with climate goals.
- China’s dominance in coal capacity development continues to widen the gap between itself and the rest of the world.
- Phasing out coal power by 2040 is crucial to limit global warming to 1.5°C, but current closure commitments are insufficient to reach this goal.
The annual Global Energy Monitor (GEM) survey, Boom and Bust Coal, has found that coal-fired operating capacity worldwide rose by two percent last year — the highest annual increase since 2016.
China was responsible for two-thirds of the expansion, with a small amount of growth in other parts of the globe, a press release from GEM said.
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Beyond the additions in China, new capacity coming online in India, Indonesia, Vietnam, Pakistan, Japan, Bangladesh, South Korea, Zimbabwe and Greece drove the increase.
Outside of China, a total of 22.1 GW were commissioned, with 17.4 GW retired — a net increase of 4.7 GW.
Last year marked the lowest retirement of coal capacity of any year in over a decade.
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