Boom and Bust Global Energy Monitor

The report finds that while global coal capacity is increasingly subject to carbon neutrality targets, a significant gap remains between current phase-out rates and Paris Agreement goals. China is the primary driver of new coal capacity, while the US leads in retirements. In Indonesia, the Just Energy Transition Partnership (JETP) provides a $20 billion financial commitment to accelerate the electricity sector's emission peak to 2030, though 'captive' coal plants for industrial use remain a significant challenge.

• Nearly one-third of global operational coal capacity (580 GW) has a phase-out schedule, and 1,400 GW more are covered by carbon neutrality targets, leaving only 5% of the global fleet outside national emission limit commitments.
• China's development of new coal capacity surged by 38% in 2022 (from 266 GW to 366 GW), while capacity in the rest of the world decreased by 20% (from 214 GW to 172 GW). China now accounts for 68% of global capacity currently under construction.
• The United States led coal plant closures in 2022 with 13.5 GW retired. Conversely, the European Union saw a slowdown in closures due to the gas crisis and the Russian invasion of Ukraine, with only 2.2 GW closed in the last year.
• The G7 nations hold 15% (323 GW) of the world's operating coal plants and have pledged to phase out unabated coal and decarbonize most of their electricity sectors by 2035.
• In Indonesia, operational coal capacity rose 9% in 2022 to 40.6 GW. The Just Energy Transition Partnership (JETP) has pledged $20 billion to move the electricity sector's emission peak to 2030, earlier than the original 2037 target.
• A significant portion of Indonesia's coal pipeline consists of 'captive' off-grid plants for industrial use, such as aluminum smelting and mineral processing for EV batteries; these account for approximately 13 GW (58%) of capacity under construction or pre-construction.
• Global coal capacity under development (including announced, pre-permitted, permitted, and construction) rose 12% in 2022 to 537.1 GW, driven by China, after hitting a record low of 479.4 GW in 2021.

APA

Global Energy Monitor (2023). Boom and Bust Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2023-Indonesian_11.pdf

Chicago

Global Energy Monitor. Boom and Bust Global Energy Monitor. 2023. https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2023-Indonesian_11.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=Boom and Bust Global Energy Monitor |date=2023 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2023-Indonesian_11.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitor2023boom, author = {{Global Energy Monitor}}, title = {{Boom and Bust Global Energy Monitor}}, institution = {Global Energy Monitor}, year = {2023}, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/Boom-Bust-Coal-2023-Indonesian_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }