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Global Coal Phase Out Challenging - Experts

Coal News - Published on Tue, 28 Jul 2020

Image Source: Coal Phase Out
A group of leading energy experts have warned that policymakers are underestimating the challenge posed by phasing out coal, with detailed roadmaps needed to carefully plan coal plant retirement accompanied by a range of policy measures and funding to support affected workers and communities. In a new research paper published in the journal Nature , the authors, which comprise 13 experts and academics from the UK, Germany, India, Australia and the US, outline the scale of the challenge involved in weaning the world off coal. While the power sector must stop using coal without carbon capture-and-storage within 30 years in order to achieve global climate targets, the research points out that coal combustion still accounts for 40 per cent of global CO2 emissions from energy use, with demand still growing in China, India and other populous Asian countries. As such, in order to accelerate the global coal phase-out and keep global warming within Paris Agreement thresholds, governments should remove all coal subsidies immediately to create a level playing field for clean energy sources. And, in the longer-term, governments should also be prepared to pay billions of euros to operators of coal-fired power plants in exchange for agreements to shut down their plants early

The study authors also recommend extensive compensation for regional economies hardest hit by the loss of coal producers and energy intensive industries to ensure a 'Just Transition'. State investment in local transport and communication infrastructure, higher education provision and new business opportunities, as well as the relocation of government services, will be needed to support these areas

State support will also be essential to shield the poor from electricity price rises resulting from replacing coal plants with more costly alternative power generation, they add, advocating measures such as adjusting electricity tariffs, investing in community benefit funds, or subsidising energy efficiency through weatherisation and retrofits programmes targeted at the most in need or vulnerable.

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Posted By : Yogender Pancholi on Tue, 28 Jul 2020
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