ENVIRONMENT

COP26: World’s Biggest Coal Consumers Fail To Sign End Pledge

Fossil fuel

Some of the world’s biggest coal-dependent countries, including Australia, India, China and the US, have failed to sign up to the pledge to shift away from coal use, despite coal being the single biggest contributor to climate change.

This comes as more than 40 countries are committing to shift away from coal, in pledges made at the COP26 climate summit, according to BBC reports.

Major coal-using countries including Poland, Vietnam and Chile are among those to make the commitment.

Signatories to the agreement have committed to ending all investment in new coal power generation domestically and internationally.

They have also agreed to phase out coal power in the 2030s for major economies, and the 2040s for poorer nations.

Dozens of organisations also signed up to the pledge, with several major banks agreeing to stop financing the coal industry.

“The end of coal is in sight… the world is moving in the right direction, standing ready to seal coal’s fate and embrace the environmental and economic benefits of building a future that is powered by clean energy,” UK Business and Energy Secretary, Kwasi Kwarteng, said.

But UK Shadow Business Secretary, Ed Miliband said there were “glaring gaps” from China and other large emitters, who have not committed to stop increasing coal use domestically. He also noted that there was nothing on the phasing out of oil and gas, adding that the UK government “has let others off the hook,” according to BBC.

Although progress has been made in reducing coal use globally, it still produced around 37% of the world’s electricity in 2019.

Poll

Subscribe To Newsletter


NNPC MONTHLY OIL AND GAS REPORT FEBRUARY 2021


CLICK IMAGE TO DOWNLOAD FULL REPORT IN PDF

NPC Monthly Report
Click to comment

Contact Us!

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top