Beijing – A report by the International Energy Agency (IEA) forecast that Chinese coal demand is expected to fall in 2024 and plateau through 2026, and the outlook for coal in China will be significantly affected in the coming years by the pace of clean energy deployment, weather conditions, and structural shifts in the Chinese economy.
Greenpeace East Asia Beijing-based project lead Gao Yuhe said:
“As the world’s leading consumer of coal power, China’s power sector uses more than half of the total coal consumption, so whether China can reduce coal use in the power sector plays a significant role in determining if global coal consumption can reach a turning point of decline.
“In the UAE Consensus of COP 28, the phrase ‘transition away from fossil fuel’ means phasing out coal as soon as possible for China. This is essential not only for China to accelerate the transformation of coal power from a mainstay to a supportive and regulatory power source in the power system, but also for China to accelerate its low-carbon energy transition and achieve its dual carbon goals and global climate commitments. After COP 28, China should actively work with European Union countries to promote more ambitious decarbonization targets and reduce coal consumption in the power sector as soon as possible.
“We should also recognize that China’s newly implemented coal power capacity payment mechanism will incentivize local governments to build more coal power projects to ensure energy security and may increase the risks of excess coal power capacity and investment.
ENDS
For media enquiries please contact:
Qilin Liu, Greenpeace East Asia, Beijing, ([email protected])