Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

World News

China 2023 coal power approvals rose, putting climate targets at risk

by February 22, 2024
February 22, 2024
China 2023 coal power approvals rose, putting climate targets at risk

SINGAPORE – China approved another 114 gigawatts (GW) of coal power capacity in 2023, up 10% from a year earlier, with the world’s top carbon polluter now at risk of falling short on climate targets after sanctioning dozens of new plants, research showed on Thursday.

In an effort to bring climate-warming emissions to a peak by 2030, China has vowed to “strictly control” new coal-fired generation capacity, and has also connected record numbers of new wind and solar plants to its grid.

But after a wave of electricity shortages in 2021, China also embarked on a coal power permitting boom that could slow its energy transition, according to analysis by U.S. think tank Global Energy Monitor (GEM) and the Helsinki-based Centre for Research on Energy and Clean Air (CREA).

China has approved 218 GW of new coal power in just two years, enough to supply electricity to the whole of Brazil.

Construction started on 70 GW of new coal plants last year, up from 54 GW a year earlier, with another 47 GW going into operation, up from 28 GW in 2022, the analysis said.

“Drastic action” is now required to meet 2025 carbon and energy intensity goals, and China could also struggle to meet a target to raise the share of non-fossil fuels in its total energy mix to 20% by 2025, it added.

China has pledged to start cutting coal consumption over the 2025-2030 period, but developers are building as much new capacity as they can before 2025, they said.

China’s total power capacity is already sufficient to meet demand, but its inefficient grid is unable to deliver electricity where it is needed, especially across provincial borders, encouraging more plant construction.

CREA has previously forecast that China’s carbon emissions will fall this year, with utilization rates at coal plants likely to drop significantly as more clean energy is connected to the grid.

“This risks significant financial problems for coal power plant operators and potential pushback against the energy transition,” said Lauri Myllyvirta, CREA’s chief analyst.

“This contradiction will have to be resolved in order for China to realize the emission reductions needed to get on track to carbon neutrality.” – Reuters

previous post
Progressive Democrat caucus loses another member over anti-Israel positions
next post
Japan’s Nikkei nears record peak after Nvidia beat, rest of Asia muted

Related Posts

US spy chief ‘cannot rule out’ that China...

March 13, 2024

South Korea’s medical professors join protests, reduce hours...

March 25, 2024

X factor: Twitter ban hits businesses, news in...

March 8, 2024

Israeli military vows response to Iran attack as...

April 16, 2024

Gaza’s hungry await aid despite convoy deaths amid...

March 6, 2024

Once beaten, twice evicted: LGBTQ+ Ugandans flee for...

May 17, 2024

FAA audit finds dozens of issues in Boeing...

March 12, 2024

Geneos cancer vaccine shrinks liver tumors in small...

April 8, 2024

US Coast Guard says boardings of Chinese fishing...

April 10, 2024

Mainland Chinese surge into Hong Kong property after...

March 19, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • Kash Patel torches ‘conspiracy theories’ about Bondi feud amid MAGA furor over Epstein files

      July 13, 2025
    • Trump defends embattled AG Pam Bondi, says ‘nobody cares about’ Jeffrey Epstein

      July 12, 2025
    • Bondi says all charges against doctor who allegedly destroyed COVID vaccines have been dropped

      July 12, 2025
    • Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

      July 12, 2025
    • Inside Dan Bongino’s tense meeting with White House officials over Jeffrey Epstein fallout

      July 12, 2025
    • Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

      July 12, 2025

    Categories

    • Business (1,304)
    • Politics (6,359)
    • Stocks (904)
    • World News (460)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 insidersadvisor.com | All Rights Reserved