The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
EcoWatch Daily Newsletter
More than a quarter of the 1,675 companies that owned or developed coal-fired power capacity since 2010 have entirely left the coal power business, according to new research from CoalSwarm and Greenpeace. This represents nearly 370 large coal-fired power plants—enough to power around six United Kingdoms—and equivalent to nearly half a trillion dollars in assets retired or not developed.
While many generating companies go through this rapid makeover, the research also shows that a total of 23 countries, states and cities will have either phased out coal-fired power plants or set a timeline to do so by 2030.
By Kevin Kalhoefer & Lisa Hymas
President Donald Trump has decided to exit the Paris climate agreement, according to Axios. The news site also reported that the Scott Pruitt-led U.S. Environmental Protection Agency (EPA) has been "quietly working" with opponents of the agreement to help them place op-eds in newspapers. Media Matters identified a number of anti-Paris agreement op-eds that have been published in papers around the U.S. in recent weeks, spreading misinformation about the expected economic impacts of the agreement, the commitment of developing countries to cutting emissions and climate science in general.
The global coal boom took a nosedive in 2016 as construction starts on coal-fired power plants fell to nearly two-thirds of 2015 levels, according to a report, from Coalswarm, Sierra Club and Greenpeace.
"Markets are demanding clean energy, and no amount of rhetoric from Donald Trump will be able to stop the fall of coal in the U.S. and across the globe," said Nicole Ghio, senior campaigner for the Sierra Club's International Climate and Energy Campaign.