News / #divestment
China accounted for 95 per cent of the world’s new coal power construction activity in 2023, according to the latest annual report from Global Energy Monitor (GEM).
The projected outlay would include buying out power supply agreements based on the annual generation of the country’s 58 existing coal units, but does not include the expense of replacing them with clean energy.
Despite major Asian banks, namely in Singapore and Japan, announcing coal exclusions in recent years, growing captive coal power in Indonesia and lax restrictions on corporate finance to developers offer new coal financing “havens”, a study finds.
Natural gas is not a clean bridging fuel to renewables, and plenty of failed investments attest to the many risks that come with gas projects.
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