Glasgow, 6 November 2021 (TDI): The UK presidency of COP26 announced that 190 countries and organizations will phase out coal use. Whereas 18 countries have committed to phasing out; not building or investing in new coal power. The UN Climate Conference talks are going on in Glasgow, Scotland.
Coal Phasing Out Agreement
This development came for the first time, on the sidelines of the COP26 conference. Amongst those countries are Poland, Vietnam, Chile, and Morocco. The phasing out will lead to environmental and economic benefits; building a future that is powered by clean energy.
No New Investment in Coal
Signatories of the agreement will phase out coal-fired power in the 2030s for major economies, and the 2040s for the rest of the world. They will end investment in new coal power generation domestically and internationally.
Other Countries to halt Coal Financing
Recently, China, Japan, and Korea committed to ending overseas finance for coal generation by the end of this year. The G20 group of nations also committed to stopping financing unabated coal plants by the end of 2021.
Coal Combustion
Coal combustion negatively impacts the environment. Energy plants that burn coal are a major source of air pollution and greenhouse gas emissions.
Coal combustion produces carbon monoxide, mercury, and sulfur dioxide. Sulfur is a hazardous substance and causes acid rain.
Coal is a non-renewable source of energy and destroys natural habitats. It creates high levels of injurious carbon emissions.
