Asia Day of Action to #EndCoal
Climate and energy campaigners have been winning the war against coal in recent years. More financing policies on coal by public and private institutions began shifting in 2021, including the ADB, AIIB no-new-coal policy; G7 no new unabated coal overseas pledge and (x) Japanese banks’ pledges to stop overseas unabated coal financing.
However, starting in 2022 there are renewed efforts on coal expansion. Almost 600 gw of coal projects are in the global pipeline. 91.6% of these are located in Asia – majority in China (77%) and India (14%), and in the following countries: Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, Thailand, Vietnam including captive coal in China, India, and Indonesia; Financiers involve both public institutions and private banks and corporations. Private institutions and governments such as Japan also continue to promote abatement and co-firing technologies which we have been opposing as these are false energy solutions that allow coal to continue, and delay the energy transition to renewable energy sources.
The fight against coal expansion has had significant progress but new coal needs to be completely and immediately stopped. More governments and private institutions to commit and implement a new-no-coal policy and coal projects in the pipeline need to be blocked.
Years of resistance and campaigning have resulted in major wins in the fight against coal in many parts of the world. The past two decades saw a downtrend in global operating coal capacity and consumption. However, coal is now staging a comeback. A total of 69.5 GW of coal power came online globally in 2023, resulting in the highest net increase in operating coal capacity since 2016. Total global capacity in pre-construction also increased by 6% in 2023.
We have to act immediately to stop the threat of a resurgence of new coal. In addition, we also need to take on the challenge of a rapid and just phaseout of existing coal, including abated coal and captive coal.
Let us undertake a renewed and supercharged campaign effort to end coal in Asia! Let us launch this effort on September 13, 2024 as the Asia Day of Action to #End Coal.
OUR DEMANDS
