The Finnish Parliament approved a motion last week to bring forward its ban on coal for energy use to May 1, 2029, bringing the country in line with the majority of the European Union in walking away from coal-fired power.
Germany, one of the world’s biggest consumers of coal, will shut down all 84 of its coal-fired power plants over the next 19 years to meet its international commitments in the fight against climate change, a government commission said.
The U.S. Energy Information Administration also believes that around 13.7 GW of coal was retired in 2018 the second-highest amount of coal capacity retired in a year.
Green energy’s share of Germany’s power production has risen to over 40% from 38% percent in 2017 and just 19% percent in 2010.
Every unprofitable coal mine in the European Union must cease production by the first day of 2019, the date on which all public funds for the mines will come to an end.
In 2018, 42% of the world’s coal-fired power stations are running at a loss and by 2030, in virtually every case (96%) it will be cheaper to build new renewable energy capacity than to keep coal plants running, according to a new study.
A coalition of investors managing over US$5.6 trillion in assets joined a coalition of more than 70 large food companies in calling for zero deforestation in Brazil’s Cerrado region.
Japan’s Marubeni Corp said it would no longer start new coal-fired power plant projects and will halve its net coal power generating capacity of about 3 gigawatts (GW) by 2030.
Banking giant will no longer finance coal-fired power stations or thermal coal mines in support of Paris Agreement goals
RBS said it would no longer directly finance new coal-fired power stations or thermal coal mines, oil sands or Arctic oil projects and unsustainable vegetation or peatland clearance projects.