The Finnish Parliament approved a motion last week to bring forward its ban on coal for energy use to May 1, 2029, bringing the country in line with the majority of the European Union in walking away from coal-fired power.
Germany, one of the world’s biggest consumers of coal, will shut down all 84 of its coal-fired power plants over the next 19 years to meet its international commitments in the fight against climate change, a government commission said.
The U.S. Energy Information Administration also believes that around 13.7 GW of coal was retired in 2018, the second-highest amount of coal capacity retired in a year.
Every unprofitable coal mine in the European Union must cease production by the first day of 2019, the date on which all public funds for the mines will come to an end.
In 2018, 42% of the world’s coal-fired power stations are running at a loss and by 2030, in virtually every case (96%) it will be cheaper to build new renewable energy capacity than to keep coal plants running, according to a new study.
Japan’s Marubeni Corp said it would no longer start new coal-fired power plant projects and will halve its net coal power generating capacity of about 3 gigawatts (GW) by 2030.
Churches are also shunning the most polluting fossil fuels in their investment portfolios, which are typically used to fund the retirement of clergy and upkeep of church buildings.
Banking giant will no longer finance coal-fired power stations or thermal coal mines in support of Paris Agreement goals
RBS said it would no longer directly finance new coal-fired power stations or thermal coal mines, oil sands or Arctic oil projects and unsustainable vegetation or peatland clearance projects.
Within a year of eight coal- and oil-fired power plant retirements, the rate of preterm births in mothers living close by dropped, finds new study on air pollution.
