In a step towards a cleaner environment, the number of coal-based fired power plants under development have seen a steep decline, especially in India and China, a report said on Thursday.
The report, however, warns that despite a global coal phase-out trend in new coal plants, emissions from operational plants will still keep the 2015 Paris climate agreement goals at bay.
The landmark Paris climate agreement aims at reducing global warming by 1.5 degrees Celsius.
In India, the economic pressure and retreat from coal financing by private capital are hailed as reasons that about 16 GW of India’s operating coal plants currently lack a power purchase agreement, the report said.
“At 17 sites, the coal plant construction in India is frozen primarily due to a lack of financing,” said the report “Boom and Bust 2018: Tracking The Global Coal Plant Pipeline”, released on Thursday by Greenpeace, the Sierra Club and CoalSwarm. Read More…