Coal retirement rates are not up to speed

The document highlights a recent increase in global coal capacity and a slowdown in the adoption of coal-restrictive policies by private financial institutions, calling for urgent regulatory action and the implementation of the Coal Transition Accelerator.

• Global operating coal capacity grew at an eight-year high in 2023, driven by new plant construction and the lowest rate of coal retirements in over a decade, resulting in the highest net increase in capacity since 2016.
• Only 15% of global coal power capacity currently has a closure timeline that aligns with the International Energy Agency's recommendation to phase out coal globally by 2040.
• Private financial institutions are adopting coal-restrictive policies at a slower rate, with only 23 top institutions updating policies in 2023 compared to 57 in 2022; currently, 187 out of 336 top global financial players have no coal policies.
• Factors hindering the adoption of ambitious climate targets by financial institutions include energy security concerns linked to the war in Ukraine and instability in the Middle East, anti-ESG sentiment in the United States, and the desire to protect profits from fossil fuel investments.
• The Coal Transition Accelerator (CTA), launched by France at COP28 to end coal expansion financing and support early retirements, has provided no updates on its three deliverables four months after its establishment.

APA

Martin, L. (2024). Coal retirement rates are not up to speed. Reclaim Finance. https://reclaimfinance.org/site/en/2024/04/16/coal-retirement-rates-are-not-up-to-speed/

Chicago

Martin, Léo. Coal retirement rates are not up to speed. Reclaim Finance, 2024. https://reclaimfinance.org/site/en/2024/04/16/coal-retirement-rates-are-not-up-to-speed/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Coal retirement rates are not up to speed |publisher=Reclaim Finance |date=16 April 2024 |url=https://reclaimfinance.org/site/en/2024/04/16/coal-retirement-rates-are-not-up-to-speed/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024coal, author = {Martin, Léo}, title = {{Coal retirement rates are not up to speed}}, publisher = {Reclaim Finance}, year = {2024}, month = apr, url = {https://reclaimfinance.org/site/en/2024/04/16/coal-retirement-rates-are-not-up-to-speed/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }