Ted Ritzer’s Post

China is at risk of missing 2025 climate targets and needs steep CO2 cuts, a study by Lauri Myllyvirta at Centre for Research on Energy and Clean Air (CREA) released today shows. The world’s top greenhouse gas polluter needs to cut fossil fuel use and maintain record renewable energy investment to get back on track, he says in the analysis published by Carbon Brief. Beijing has relied heavily on coal and oil to fuel the nation’s economy during the pandemic and drive its recovery afterwards. But the result has been a large spike in emissions of planet-warming carbon dioxide (CO2). A surge in coal power plant approvals and construction has added to the concerns. China set a series of climate targets as part of its 14th five-year plan that runs from 2021 to 2025, including cutting carbon intensity (CO2 emissions per unit of economic output) by 18 per cent from the 2020 level during this period. Achieving this target would mean CO2 emissions falling between 4 per cent and 6 per cent by 2025 from 2023 levels, according Mr Myllyvirta. Yet China’s energy sector CO2 emissions increased 5.2 per cent in 2023. #China #fossilfuels #coal #oil #electricity #climatechange #airpollution #renewableenergy #co2 Read more here in my story for The Straits Times: https://lnkd.in/guqGCfGs

The closure of Britain's last coal-fired power station marks a significant milestone in the global transition to clean energy. This historic shift away from a fossil fuel that has powered the world for centuries underscores the growing urgency to address the climate crisis. Coal's detrimental impact on the environment is undeniable. Its combustion releases vast quantities of greenhouse gases, contributing significantly to global warming and its associated consequences. Additionally, coal mining often involves destructive practices that devastate ecosystems and leave lasting scars on the landscape. While some countries may continue to prioritize economic gains over environmental concerns, the increasing costs of climate change and the growing availability of renewable energy alternatives make the transition to a cleaner energy future both necessary and economically viable. Britain's decision to abandon coal sets a powerful example for other nations to follow. By investing in renewable energy sources and phasing out fossil fuels, countries can not only mitigate the worst effects of climate change but also create a healthier, more sustainable planet for future generations.

The world’s coal power capacity has indeed seen a rise, despite the urgent warnings about climate change.  The global coal power capacity grew by 2% in 2023.  This is the highest annual increase since 2016. This increase was primarily driven by new coal plants across China and a slowdown of plant closures in Europe and the US. About 69.5 gigawatts (GW) of coal plant capacity came online last year, of which two-thirds were built in China. Other countries that built new plants include Indonesia, India, Vietnam, Japan, Bangladesh, Pakistan, South Korea, Greece, and Zimbabwe. Meanwhile, a slowdown in coal plant shutdowns in the US and Europe led to more than  21GW retiring last year. This resulted in a net annual increase of almost 48.5GW for the year, the highest since 2016.   The impact of this increase in coal power capacity is significant.  Coal power generation is the single largest source of carbon emissions globally.  When coal is burned, it releases carbon dioxide, a heat-trapping gas, contributing to global warming.  It also releases other pollutants like particulate matter, sulphur dioxide, nitrogen oxide, and mercury, causing various health issues. To mitigate these impacts, one proposed solution is the use of high-integrity compliance carbon credits as a complementary financing instrument to accelerate and scale the early retirement of coal-fired power plants.  These transition credits arise from emissions reduced through the plant’s early retirement and replacement with cleaner energy sources.  However, this approach is still in its infancy and faces execution challenges.   Transition carbon credits are a type of high-integrity carbon credits.  They are generated from the emissions reduced through retiring a Coal-Fired Power Plant (CFPP) early and replacing it with clean energy sources.  These credits serve as a complementary financing instrument to reduce the economic gap for the early retirement of CFPPs. For instance, the Monetary Authority of Singapore (MAS) proposed a new class of these credits that would be generated from the early retirement of a coal plant and its replacement with cleaner energy sources.  This demonstrates an irreversible action to reduce emissions at source. In another example, Singapore’s Ministry of Sustainability and the Environment (MSE) and the National Environment Agency (NEA) have set out the Eligibility Criteria under the International Carbon Credit (ICC) Framework.  This framework allows carbon tax-liable companies to use eligible ICCs to offset up to 5% of their taxable emissions from 1st January 2024.  The ICC Framework supports the development of carbon markets by enabling the demand and supply of high-quality carbon credits to be matched. Terence Nunis Terence K. J. Nunis, Consultant President, Red Sycamore Global

Coal, the dirtiest fossil fuel among the other three types, gas, coal, and oil, is the single largest source of carbon emissions and a primary contributor to air pollution. The IEA 2023 report notes that the steep drop in coal demand during the height of the covid was replaced by a strong rebound when Russia invaded Ukraine driven by the energy crisis, reaching new levels in 2022 as the primary source of electricity generation, steelmaking, and cement production. Coal’s contribution to warming the planet from carbon emissions makes it essential to curb its use and replace it with a cleaner energy source. #climatearticles #climatechange #RenewableEnergy #climateadaptation https://lnkd.in/gZszKXi6

'Gas emissions show the biggest annual increase, 2.4%, thanks to increased use in China and elsewhere. Oil burning increased by 0.9%, driven in particular by international flights, while coal emissions are expected to rise marginally by 0.2%. The emissions of China, the world’s biggest polluter, are expected to rise slightly. “It has had another record year of growth in renewable power, but coal power also kept growing due to even faster growth in electricity demand from hi-tech industries and residential consumption,” said Jan Ivar Korsbakken, at Center for International Climate Research (Cicero) in Norway. Emissions from oil in China have probably peaked owing to the boom in electric vehicles. Emissions from the second biggest polluter, the US, are expected to decline slightly, with coal continuing its decline to its lowest level in 120 years, but offset by an increase in gas burning. Coal emissions are falling even faster in the European Union, driving a 3.8% drop in emissions. However, coal burning is increasing in India as its economy grows strongly, leading to a 4.6% rise.' https://lnkd.in/eyZMFpHT

The world’s coal power capacity has indeed seen a rise, despite the urgent warnings about climate change.  The global coal power capacity grew by 2% in 2023.  This is the highest annual increase since 2016. This increase was primarily driven by new coal plants across China and a slowdown of plant closures in Europe and the US. About 69.5 gigawatts (GW) of coal plant capacity came online last year, of which two-thirds were built in China. Other countries that built new plants include Indonesia, India, Vietnam, Japan, Bangladesh, Pakistan, South Korea, Greece, and Zimbabwe. Meanwhile, a slowdown in coal plant shutdowns in the US and Europe led to more than  21GW retiring last year. This resulted in a net annual increase of almost 48.5GW for the year, the highest since 2016.   The impact of this increase in coal power capacity is significant.  Coal power generation is the single largest source of carbon emissions globally.  When coal is burned, it releases carbon dioxide, a heat-trapping gas, contributing to global warming.  It also releases other pollutants like particulate matter, sulphur dioxide, nitrogen oxide, and mercury, causing various health issues. To mitigate these impacts, one proposed solution is the use of high-integrity compliance carbon credits as a complementary financing instrument to accelerate and scale the early retirement of coal-fired power plants.  These transition credits arise from emissions reduced through the plant’s early retirement and replacement with cleaner energy sources.  However, this approach is still in its infancy and faces execution challenges.   Transition carbon credits are a type of high-integrity carbon credits.  They are generated from the emissions reduced through retiring a Coal-Fired Power Plant (CFPP) early and replacing it with clean energy sources.  These credits serve as a complementary financing instrument to reduce the economic gap for the early retirement of CFPPs. For instance, the Monetary Authority of Singapore (MAS) proposed a new class of these credits that would be generated from the early retirement of a coal plant and its replacement with cleaner energy sources.  This demonstrates an irreversible action to reduce emissions at source. In another example, Singapore’s Ministry of Sustainability and the Environment (MSE) and the National Environment Agency (NEA) have set out the Eligibility Criteria under the International Carbon Credit (ICC) Framework.  This framework allows carbon tax-liable companies to use eligible ICCs to offset up to 5% of their taxable emissions from 1st January 2024.  The ICC Framework supports the development of carbon markets by enabling the demand and supply of high-quality carbon credits to be matched. Terence Nunis Terence K. J. Nunis, Consultant President, Red Sycamore Global

The world’s coal power capacity has indeed seen a rise, despite the urgent warnings about climate change.  The global coal power capacity grew by 2% in 2023.  This is the highest annual increase since 2016. This increase was primarily driven by new coal plants across China and a slowdown of plant closures in Europe and the US. About 69.5 gigawatts (GW) of coal plant capacity came online last year, of which two-thirds were built in China. Other countries that built new plants include Indonesia, India, Vietnam, Japan, Bangladesh, Pakistan, South Korea, Greece, and Zimbabwe. Meanwhile, a slowdown in coal plant shutdowns in the US and Europe led to more than  21GW retiring last year. This resulted in a net annual increase of almost 48.5GW for the year, the highest since 2016.   The impact of this increase in coal power capacity is significant.  Coal power generation is the single largest source of carbon emissions globally.  When coal is burned, it releases carbon dioxide, a heat-trapping gas, contributing to global warming.  It also releases other pollutants like particulate matter, sulphur dioxide, nitrogen oxide, and mercury, causing various health issues. To mitigate these impacts, one proposed solution is the use of high-integrity compliance carbon credits as a complementary financing instrument to accelerate and scale the early retirement of coal-fired power plants.  These transition credits arise from emissions reduced through the plant’s early retirement and replacement with cleaner energy sources.  However, this approach is still in its infancy and faces execution challenges.   Transition carbon credits are a type of high-integrity carbon credits.  They are generated from the emissions reduced through retiring a Coal-Fired Power Plant (CFPP) early and replacing it with clean energy sources.  These credits serve as a complementary financing instrument to reduce the economic gap for the early retirement of CFPPs. For instance, the Monetary Authority of Singapore (MAS) proposed a new class of these credits that would be generated from the early retirement of a coal plant and its replacement with cleaner energy sources.  This demonstrates an irreversible action to reduce emissions at source. In another example, Singapore’s Ministry of Sustainability and the Environment (MSE) and the National Environment Agency (NEA) have set out the Eligibility Criteria under the International Carbon Credit (ICC) Framework.  This framework allows carbon tax-liable companies to use eligible ICCs to offset up to 5% of their taxable emissions from 1st January 2024.  The ICC Framework supports the development of carbon markets by enabling the demand and supply of high-quality carbon credits to be matched. Terence Nunis Terence K. J. Nunis, Consultant President, Red Sycamore Global

According to the final declaration from the G7 Climate, Energy, and Environment Ministers meeting, G7 countries reached a unanimous agreement to stop coal-powered energy generation within their borders by 2035. This is particularly noteworthy concerning the US and Japan, as they were the only G7 countries that had not yet committed to a coal phase-out timeline. The International Energy Agency (IEA) reports that G7 members and the European Union combined account for 40% of the global economy, 30% of energy demand, and 25% of energy system-related carbon dioxide emissions. While this announcement signifies international progress, a report by Climate Analytics states that none of the G7 countries are on track to meet their existing 2030 emissions targets, and these are not yet aligned with the 1.5°C warming limit. Critically, the report stated: “G7 countries need to rapidly decarbonise in order to buy time for those developing countries who will need longer to complete their energy transitions, and to generate positive technological spill-over benefits that can support other countries.” To learn more, click on the link below. #Energy #EnergyTransition #Decarbonisation #Sustainability

The G7 finally commits to exit coal - *but not really* They will “phase out existing unabated coal power generation in our energy systems during the first half of 2030s or in a timeline consistent with keeping a limit of 1.5°C temperature rise within reach” - lots of ifs and buts. ➡ The timeline lacks urgency and clarity, and is not consistent with science. ➡ The focus on "unabated coal" bets on failing technologies to capture carbon (or the highly criticized ammonia co-firing in the case of Japan). It's true that upward trends in coal consumption today are visible mainly in developing countries (esp Asia), but the responsibility to lead the transition lies with historical polluters. More from Tamanna Sengupta Trishant Dev: https://lnkd.in/gqmZUDFy Centre for Science and Environment, New Delhi

Wowsers! What would it cost to kill coal? The energy transition will be much cheaper than you think… Coal accounts for around 35% of total global power production. Annual coal-generated power production is around 2,100GW. It’s predicted to GO UP to circa 2,350GW by 2040. To reimburse investors for the capital involved would cost around $5.7trn. That sounds like a lot… In reality that’s equivalent to about three years’ worth of global clean energy investment. Every dollar spent now to avoid downstream problems is 30% more efficient than a dollar spent in 10 years time. It equates to around $34/tonne of CO2 emissions avoided. Carbon offsetting currently costs $85/tonne. Taking carbon already emitted back out of the atmosphere costs around $600/tonne. Do the maths… #Environment #Economist #ClimateChange #CleanEnergy The energy transition will be much cheaper than you think https://lnkd.in/dPTKx_Uf from The Economist