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The policy brief asserts that for the global goal of tripling renewable capacity to be met, G7 nations must collectively increase their capacity from 0.9 TW in 2022 to 2.7 TW by 2030. Current G7 targets only amount to 2 TW, representing a doubling rather than a tripling, and leaving a 0.7 TW gap. While Germany and the UK have targets reaching at least 80% of a tripling, France and Japan are lagging, and the US and Canada lack official targets.

The 2024 'Boom and Bust' report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. China's new coal construction reached an eight-year high, contradicting its 2021 pledge to strictly control new projects. Globally, only 15% of operational coal capacity is committed to retirement aligned with the 1.5°C goal. While construction outside China hit a nine-year low, new planning in India, Kazakhstan, and Indonesia remains a challenge, and captive coal plants are emerging as a persistent loophole.

The report highlights a contradictory global trend: while most countries are reducing coal construction and many are committing to phase-outs, global coal capacity increased by 11% since 2015, reaching a record high in 2023. This growth is driven primarily by China, which accounted for two-thirds of the 2023 increase. Outside China, new construction starts reached their lowest level since 2015. The report notes that only 15% of global operational capacity has a documented phase-out plan aligned with the 1.5°C goal. Regional analyses show significant progress in the EU and UK, though some countries lag behind 2030 targets, and a volatile situation in Sub-Saharan Africa where South Africa remains heavily dependent on coal despite an energy crisis.

The report finds that global coal capacity reached a record high in 2023, totaling 2,130 GW, driven largely by China. While new construction starts reached a nine-year low outside China, they hit an eight-year high within China. Only 15% of global operating coal capacity has retirement commitments aligned with the 1.5°C Paris Agreement goal. In Indonesia, the transition is hindered by the rapid growth of 'captive' coal plants for nickel smelting, a reduction in renewable energy targets, and a financial taxonomy that classifies captive coal as 'transition' activities.

This document is a Japanese translation of an excerpt from the 'Boom & Bust Coal 2024' report by Global Energy Monitor and its partners. It tracks global coal-fired power plant plans as of April 2024, highlighting a contradiction where global coal capacity reached record highs in 2023 despite a general trend of shrinking development pipelines in most countries except China.

The report finds that while many countries are reducing planned coal capacity, global operational capacity reached a record high in 2023, driven largely by China. It highlights a divergence between China's increasing construction and the decline in other regions. In South Korea, the report argues that current plans are insufficient to meet Paris Agreement goals and that continued reliance on coal, including ammonia co-firing, poses significant financial risks to the state utility and the national economy.

Global coal capacity reached a record high of 2,130 GW in 2023, growing by 2% (48.4 GW), primarily driven by China. While new construction hit a nine-year low outside China, it reached an eight-year high within China. Only 15% of global operational capacity is under a phase-out commitment. In Latin America, operational capacity is declining, though some countries like Brazil and Mexico face challenges with decommissioning timelines and legislative extensions of plant lifespans.

In 2023, global coal capacity reached a record 2130 GW, driven largely by China, despite a decline in new construction starts outside China. While 101 countries have committed to avoiding new coal, significant pre-construction pipelines remain in China and India. Central Asia is identified as a region moving against the global trend, with proposed coal capacity reaching 45% of its current operational capacity, led by Kazakhstan.

The report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. While new construction reached a historic low outside China, it hit an eight-year high within China. Only 15% of global operational capacity has a retirement commitment aligned with the 1.5°C goal. In Latin America, capacity is gradually decreasing, though some countries like Colombia and Mexico lack concrete phase-out plans, and Brazil has seen some retirement dates postponed.

Global coal-fired power capacity reached a record 2,130 GW in 2023, driven largely by China, despite a general global trend toward reducing new coal construction. While the EU and UK are accelerating retirements, China's new construction capacity reached an eight-year high. Turkey continues to develop coal capacity, ranking eighth globally in capacity under development, despite significant local opposition and the cancellation of numerous projects.

Global Energy Monitor identifies 74 new oil and gas projects that could emit 2.4 million metric tonnes of methane annually by 2030, potentially undermining the Global Methane Pledge. The analysis reveals significant discrepancies between these potential emissions and the company-wide figures reported by operators to the OGMP 2.0, suggesting widespread underreporting of assets or methane intensity. A small number of fields in Saudi Arabia and Guyana account for a disproportionate share of these emissions, while new EU regulations on imported oil and gas are expected to impact many of these developments.

The global operating coal fleet grew by 48.4 GW (2%) in 2023 to 2,130 GW, primarily driven by China. While many countries have reduced their coal pipelines or committed to 'No New Coal,' China saw an eight-year high in new construction starts. Outside China, new construction hit a record annual low. However, global operating capacity has grown 11% since 2015, and only 15% of current capacity has a retirement commitment aligned with the 1.5°C goal.

The report analyzes the growing prevalence of voluntary sustainability standards (VSSs) in free trade agreements (FTAs), noting a significant increase in references since 2018. It identifies five common rationales for their inclusion: cooperation, promotion, recognition, guidelines, and support. While VSSs can complement public regulations and drive innovative trade policy—such as using sustainability criteria for preferential tariffs—the report warns of pitfalls, including vague terminology, lack of enforcement, and the risk of VSSs becoming de facto market barriers for small-scale producers in developing countries. The authors argue that the effectiveness of VSSs depends on their credibility and the establishment of clear multilateral guidelines.

Reclaim Finance finds that Shell's investment strategy prioritizes oil and gas expansion and shareholder returns over renewable energy, leading to production levels and LNG capacities that significantly exceed NZE requirements by 2030. The report notes that Shell has reduced its carbon intensity targets and relies heavily on unproven carbon capture and offsets, while its renewable energy growth remains marginal compared to its fossil fuel output.

The report concludes that TotalEnergies' strategy prioritizes oil and gas expansion and shareholder returns over the energy transition. It finds that the company's 2030 production targets and LNG capacity expansions significantly overshoot NZE limits, while its renewable energy growth relies primarily on acquisitions rather than organic development. Furthermore, the report argues that TotalEnergies' diversification into gas power, blue hydrogen, and bioenergy is unsustainable and that its emissions targets rely heavily on unproven carbon capture and offset technologies.

The report finds that global coal capacity reached a historic high in 2023, increasing by 48.4 GW to a total of 2,130 GW. While new construction starts reached a nine-year low outside of China, China saw an eight-year high in new starts. Only 15% of global operating coal capacity has commitments to close in line with the 1.5°C Paris Agreement goal. In Indonesia, the report highlights a surge in 'captive' coal plants supporting nickel smelting, noting that 27.5% of Indonesia's operating coal capacity is captive. Despite the US$20 billion Just Energy Transition Partnership (JETP), Indonesia's early retirement targets for coal plants shrank from 5.5 GW to 1.7 GW in late 2023.

The report finds that while most countries are reducing coal proposals, global operating capacity grew by 48.4 GW in 2023, primarily driven by China. It highlights a stark divergence between China's construction surge and a record low in new starts elsewhere, while noting that only 15% of global operating coal capacity has a Paris-aligned retirement commitment.

The report argues that the EU is not on track to meet its 2030 and 2050 climate goals and must shift to an 'option-based' approach that integrates a broad range of low- and zero-carbon technologies. Key recommendations include scaling up carbon capture and storage (CCS), diversifying the energy mix with small modular reactors (SMRs), superhot rock geothermal, and fusion energy, and implementing a rigorous methane import standard. It emphasizes the need for a comprehensive green industrial strategy, a dedicated climate fund to replace the Recovery and Resilience Facility, and international cooperation to set global clean-tech standards.

Private equity firms have invested in 85% of operating and 73% of proposed US LNG terminals, contributing significantly to global emissions. The briefing highlights that six firms—PIMCO, Brookfield, KKR, Blackstone, York Capital Management, and Global Infrastructure Partners—account for over 75% of these financed emissions. It argues that LNG may be worse than coal when lifecycle methane emissions are considered and uses the Rio Grande LNG project as a case study of private equity acquiring assets after more accountable investors exit due to climate risks.

The document asserts that international development funding for media is critically insufficient, stagnating at approximately 0.3% of annual expenditure. It links this lack of investment to the proliferation of misinformation and disinformation, citing examples in the UK, Colombia, Kenya, and Indonesia. WACC calls for an urgent increase in media development spending based on principles of transparency, social cohesion, and inclusivity of marginalized voices.