COP26: the moment of truth for the Powering Past Coal Alliance

Reclaim Finance asserts that the Powering Past Coal Alliance (PPCA) is failing to drive a real movement away from coal despite growing membership. The organization highlights that most financial institution members continue to fund coal development, and co-chairs Canada and the United Kingdom, along with members like Mexico and Germany, exhibit contradictory behaviors such as planning new mines or power plants. The document calls for the PPCA to reform its criteria to include the entire coal sector and align with Paris Agreement timetables ahead of COP26.

• Despite growing from 23 members in 2017 to 111 in March 2021, the PPCA has not achieved a real movement away from coal, with many members putting exit ambitions on hold.
• Financial institutions within the PPCA are largely failing to exit coal; only two of 23 financial members have policies enabling an exit within Paris Agreement timeframes, while 18 do not restrict funding for new projects and 8 have no minimum criteria for sector support. These members hold $38 billion in companies on the Global Coal Exit List.
• Several member states demonstrate contradictory behavior regarding coal: Canada plans 13 new mines in Alberta and British Columbia despite a 2030 power plant closure goal; the United Kingdom is considering a new coal mine; Mexico plans new coal-fired power plants; and Germany intends to use them until 2038.

APA

admin (2021). COP26: the moment of truth for the Powering Past Coal Alliance. Reclaim Finance. https://reclaimfinance.org/site/en/2021/04/20/cop26-the-moment-of-truth-for-the-powering-past-coal-alliance/

Chicago

admin. COP26: the moment of truth for the Powering Past Coal Alliance. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/04/20/cop26-the-moment-of-truth-for-the-powering-past-coal-alliance/.

Wikipedia

{{cite press release |last1=admin |title=COP26: the moment of truth for the Powering Past Coal Alliance |publisher=Reclaim Finance |date=20 April 2021 |url=https://reclaimfinance.org/site/en/2021/04/20/cop26-the-moment-of-truth-for-the-powering-past-coal-alliance/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021cop26, author = {admin}, title = {{COP26: the moment of truth for the Powering Past Coal Alliance}}, publisher = {Reclaim Finance}, year = {2021}, month = apr, url = {https://reclaimfinance.org/site/en/2021/04/20/cop26-the-moment-of-truth-for-the-powering-past-coal-alliance/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }