China's 2024 Coal Projects A Threat to Climate Goals? - Insights from CREA and GEM Report

Title China's 2024 Coal Projects A Threat to Climate Goals? - Insights from CREA and GEM Report

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China's 2024 Coal Projects Pose a Threat to Climate Goals, Report Warns

Beijing – China has initiated construction on coal power projects with a combined capacity of over 94.5 gigawatts in 2024, jeopardizing the country's goal to peak carbon emissions by 2030, according to a report published recently.

As the world's second-largest economy and largest emitter of greenhouse gases driving climate change, China has set ambitious targets to reach net zero by 2060. While coal has been a crucial energy source for decades, rapid growth in wind and solar installations in recent years have raised hopes that the country can transition away from dirty fossil fuels.

However, according to a report from the Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM), China's decision to build 94.5 gigawatts of coal power projects in 2024 – accounting for 93% of global total – poses a significant threat to its climate goals.

This development is particularly concerning given the country's pledge by President Xi Jinping in 2021 to strictly control coal power projects and increases in coal consumption before phasing it down between 2026 and 2030. Despite this commitment, coal production has continued to rise steadily, increasing from 3.9 billion tons in 2020 to 4.8 billion tons in 2024.

The report also highlights the impressive growth of renewable energy in China, with a record 356 gigawatts of wind and solar capacity added – 4.5 times more than the European Union's additions. However, this progress is being undermined by the rapid expansion of coal power, which risks solidifying its role in China's energy mix.

It's crucial that China takes immediate action to curb coal production and consumption, prioritizes renewable energy sources, and implements policies that support a low-carbon transition, said Qi Qin, lead author of the report and China analyst at CREA.

Conclusion
China's 2024 coal projects pose a significant threat to its climate goals and global efforts to combat climate change. The country must take immediate action to curb coal production and consumption, prioritize renewable energy sources, and implement policies that support a low-carbon transition.

Edward Lance Arellano Lorilla

CEO / Co-Founder

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