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The report highlights a global trend toward phasing out coal power, accelerated by COP26 commitments, while identifying China as a significant exception due to its continued construction of new plants. It details the decline of international public financing for coal and the risks associated with 'clean coal' technologies like CCS.

The report finds that while many countries are committing to 'No New Coal' and accelerating closures, China continues to expand its coal capacity, largely offsetting global reductions. As of 2021, 750 coal plants (550 GW) have determined closure dates, but a significant gap remains to meet IPCC 1.5°C targets, which would require an additional 1,100 GW of capacity to be cancelled or closed by 2030.

The report provides a comprehensive tracking of global coal-fired power plant capacity, highlighting a divergence between the decline of coal in most OECD and non-OECD countries and the continued expansion of coal capacity in China. It evaluates the effectiveness of COP 26 commitments, the role of public financing, and the perceived inefficiency of 'clean coal' technologies like Carbon Capture and Storage (CCS).