Outrage + Optimism reposted this
Since 2015 the amount of new coal power in development has fallen from 1,496 GW to 578 GW and the majority of coal plants that were in development in 2015 have been cancelled. This transformational change occurred during a period when we were expecting a coal boom. This insightful new article from Joel Jaeger at #SystemsChangeLab explores the reasons for this unexpected development and what we can learn from it now.
In 2015 when the Paris Agreement was reached, its 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. However, since then the amount of new coal power in development has fallen dramatically. Why? There are multiple reasons for the transformative change: 🔌Clean energy filled the gap 🏭Most of the biggest emitters announced goals to reach net-zero emissions 💰Large public financiers of coal projects committed to stop lending #SystemsChangeLab explores the history of coal plants cancellations in China, India and Vietnam to help understand how the world can speed up the cancellation of the remaining coal project pipeline▶️ https://bit.ly/3zMN5vK