This doesn’t diminish the significance of the announcement. Only a few years in the past, the concept of an finish to new coal plant building was seen as a provocative, even unbelievable thought. In 2015, the Worldwide Vitality Company anticipated demand of 5,814 million metric tons for 2020 — already a 500 million ton downgrade from its earlier forecast. In apply, it was 5,168 million tons, and is just anticipated to revive to 5,308 million tons within the wake of the pandemic this 12 months. That tempo of decline must speed up dramatically over the subsequent 5 years, relatively than gradual to a halt because the IEA presently predicts — however the finish of Chinese language coal finance will play a significant half in that course of.
https://www.washingtonpost.com/enterprise/power/xis-coal-pledge-is-climate-followership-not-leadership/2021/09/22/2ccbee1a-1b64-11ec-bea8-308ea134594f_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | Xi’s Coal Pledge Is Local weather Followership, Not Management