Cop: Australia backs no new coal power call: Correction

Spanish Market: Coal, Electricity
20/11/24

Corrects missing word in headline

Major coal producers Australia and Colombia, along with the EU and 23 other countries including the UK, have pledged not to allow any new unabated coal-fired power generation in their energy systems at the UN Cop 29 climate summit in Baku, Azerbaijan.

This comes a day after Colombia, New Zealand and the UK joined a Netherlands-led international coalition focused on phasing out incentives and subsidies for fossil fuels.

Most of the coal pact signatories are members of the Powering Past Coal Alliance, under which some countries have committed to phasing out existing unabated coal power generation. Australia is not listed as a member of the alliance, but the cities of Sydney, Melbourne and Canberra are.

Unsurprisingly, the list of signatories did not include China or India, the two world's largest coal importers. It also does not include the US, although the country is part of the Powering Past Coal Alliance.

"There is no space for new unabated coal in a 1.5°C or even 2°C aligned pathway, yet coal capacity rose by 2pc last year," the pact signatories said today.

The pledge focuses on coal-fired generation and does not mention the phasing out of exports or imports.

Australia, is the world's second-largest seaborne coal exporter. The country is looking to host Cop 31 in 2026 by outbidding Turkey for the spot. But no realistic policy changes in coal exports is expected from Australia, which will have a federal parliamentary election by May 2025 and winning votes from key coal mining regions in New South Wales and Queensland has proven to be crucial in recent elections.

Turkey is on track to overtake Germany as Europe's largest coal-fired generator this year and was not among the signatories of today's coal pledge.

Amid calls for a faster phase-down of unabated coal-fired power generation, global coal trade is set to reach a record high of more than 1.5bn t this year, surpassing last year's 1.38bn t, according to IEA data. Coal consumption will probably remain resilient, supported by higher electricity demand growth in China and India.

China has not set a new climate plan since 2021, but it is expected to ramp up its ambitions in a new plan due by February 2025. India and Indonesia are strongly encouraging higher coal production to ensure energy security.

The US Energy Information Administration (EIA) in September lowered its forecast for US coal-fired generation in this year but raised its expectation for 2025.

By Shreyashi Sanyal

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21/11/24

Cop: EU, four countries commit to 1.5°C climate plans

Baku, 21 November (Argus) — The EU, Canada, Mexico, Norway and Switzerland have committed to submit new national climate plans setting out "steep emission cuts", that are consistent with the global 1.5°C temperature increase limit sought by the Paris Agreement. The EU and four countries made the pledge at the UN Cop 29 climate summit in Baku, Azerbaijan today, and called on other nations to follow suit — particularly major economies. Countries are due to submit new climate plans — known as nationally determined contributions (NDCs) — covering 2035 goals to the UN climate body the UNFCCC by early next year. The EU, Canada, Mexico, Norway and Switzerland have not yet submitted their plans, but they will be aligned with a 1.5°C pathway, EU climate commissioner Wopke Hoekstra said today. The Paris climate agreement seeks to limit the global rise in temperature to "well below" 2°C and preferably to 1.5°C. Canada's NDC is being considered by the country's cabinet and will be submitted by the 10 February deadline, Canadian ambassador for climate change Catherine Stewart said today. Switzerland's new NDC will also be submitted by the deadline, the country's representative confirmed. Pamana's special representative for climate change Juan Carlos Monterrey Gomez also joined the press conference today. Panama, which is designated as carbon negative, submitted an updated NDC in June. It is planning to submit a nature pledge, Monterrey Gomez said. "It is time to streamline processes to get to real action", he added. The UK also backed the pledge. The UK announced an ambitious emissions reduction target last week. The UAE — which hosted Cop 28 last year — released a new NDC just ahead of Cop 29, while Brazil, host of next year's Cop 30, released its new NDC on 13 November during the summit. Thailand yesterday at Cop 29 communicated a new emissions reduction target . Indonesia last week said that it intends to submit its updated NDC ahead of the February deadline, with a plan placing a ceiling on emissions and covering all greenhouse gases as well as including the oil and gas sector. Colombia also indicated that its new climate plan will seek to address fossil fuels, but it will submit its NDC by June next year . By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Indonesia advances coal-fired power phase-out to 2040

20/11/24

Indonesia advances coal-fired power phase-out to 2040

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China to quit coal baseload power by 2050: Think tank

20/11/24

China to quit coal baseload power by 2050: Think tank

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Coal shipments fall at Australia's PWCS terminals

20/11/24

Coal shipments fall at Australia's PWCS terminals

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UK launches global clean power group at G20

19/11/24

UK launches global clean power group at G20

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