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China s end to overseas coal financing could free $130 bn for clean energy | Hellenic Shipping News Worldwide
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7 April 2021
A new report by Global Energy Monitor (GEM) shows record coal plants closures in most of the world offset by an expansion of coal in China, in 2020. China was responsible fo 85% of the total of 87.4 gigawatts of proposed new coal plants, in 2020.
The report, Boom and Bust 2021: Tracking The Global Coal Plant Pipeline, is the 7th annual survey of global planned coal plants. 2020 was the equal 2nd year for the retirement of coal plants in 2020, with 11.3 gigawatts retiring in the US and 10.1 gigawatts retiring in the EU27 region.
During the four years of Donald Trump’s presidency, a total of 52.4 gigawatts of coal retired, compared to 48.9 gigawatts during Barack Obama’s presidency. This is despite Trump promising a ‘boom’ in coal, in the US.