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UAE joins Powering Past Coal Alliance

UAE joins Powering Past Coal Alliance

The UAE and Malta have today (5 December) announced that they have joined the Powering Past Coal Alliance (PPCA), committing to transition from unabated coal power generation to clean energy.

It marks a key step for the COP Presidency, which is still facing accusations that it is using the climate summit to boost its oil and gas exports.

For all the size of its oil and gas economy, which makes up 40% of government revenue, the UAE does not have any coal reserves and operates only one coal-fired power station. Indeed, the UAE stopped using coal in power generation in 2022.

Malta is not a major coal player, with no domestic coal extraction. It does import some coal for heavy industry from markets including the EU. Malta phased out coal power in 1996.

Malta and the UAE bring the total number of new PPCA members announced at COP28 up to nine. Other members include the US, the Czech Republic, Cyprus, Dominican Republic, Iceland, Kosovo and Norway. The PPCA now covers 59 countries.

The PPCA argues that the UAE joining the Alliance sends a strong signal for a complete coal phase-out to be included at COP, which its members have also been advocating for.

Dr Sultan Ahmed Al Jaber, COP28 President-Designate, United Arab Emirates said: “Today I am delighted to announce that the United Arab Emirates has joined the Powering Past Coal Alliance. Since COP23, this Alliance has been a leader in driving global momentum to move beyond coal and towards cleaner forms of energy.

“The path to decarbonisation must involve a transition away from unabated coal towards renewable energies. We are clear on the course of action needed and are determined that COP28 provides actionable solutions to enable progress.”

The Alliance is also launching a call to include a commitment in the cover decision of the Global Stocktake to end unabated new coal and phase it out in line with 1.5C. Draft texts of the Global Stocktake emerged at COP28 overnight.

The 12-page document, “welcomes” that the Paris Agreement has “driven near-universal climate action by setting goals and sending signals to the world regarding the urgency of responding to the climate crisis”.

However, the draft text “notes with significant concern” emissions are not in line with modeled global mitigation pathways consistent with the temperature goal of the Paris Agreement. It warns of a “rapidly narrowing window to raise ambition and implement existing commitments” in order to limit warming to 1.5C.

The document is currently light on mentions as to how fossil fuels should be phased-out and also lacks detail on key biodiversity mechanisms such as combatting deforestation and championing nature-based solutions.

 

 


 

 

Source   edie

Toshiba to end construction of new coal-fired power plants

Toshiba to end construction of new coal-fired power plants

Toshiba Corp. has said it will stop taking orders for new coal-fired power plants as it makes a wider push to embrace renewable energy, though it will still complete work on about 10 further facilities.

The engineering and technology giant will continue to manufacture steam turbines, offer maintenance services for existing coal-power plants and work on the construction of plants that have already been ordered.

The shift away from coal highlights differences between equipment suppliers as they move to leave the sector behind and focus on gas turbines and renewable energy.

Samsung C&T Corp. has faced criticism over its intention to complete further coal projects before quitting the fuel, while General Electric Co. said in September it will pursue an exit from its existing obligations.

The firms are under pressure amid investor demands for action on climate change and over the prospect that tighter government policy on greenhouse gas emissions will limit scope for new coal-fired plants — even in Asia, where nations currently remain reliant on the fuel as a form of cheap electricity generation.

“Demand for new coal-power plants has been dwindling,” Toshiba President Nobuaki Kurumatani said during a media briefing Wednesday. “We started considering withdrawing from new coal-plant construction in the previous fiscal year, and finally made the decision” after the government pledged last month to become greenhouse gas neutral by 2050.

Renewable energy-related investments in Japan could total as much as ¥80 trillion ($760.6 billion) over the next decade amid national efforts to lower emissions, Kurumatani estimated.

Toshiba has existing orders for the installation of coal-fired plant facilities in countries including Indonesia and India, according to details listed on its website.

Shares in the firm rose 0.8% in Tokyo trading on Wednesday. The company also released its second quarter earnings the same day, announcing an annual dividend forecast that beat analyst estimates.

Toshiba “needs to change strategy to take advantage of growth sectors,” wrote Llewelyn Hughes, an associate professor at the Australian National University’s Crawford School of Public Policy, in an email. “Toshiba is able to make this shift because it is a diversified company, so exiting coal is not existential for them.”

The company plans to invest ¥160 billion in renewable energy for its operations through the fiscal year ending March 2023, and also aims to halve carbon dioxide emissions by 2030, including so-called Scope 3 pollution, spokesman Takashi Ebina said Wednesday.

Toshiba aims to increase annual sales from its renewable energy business to ¥650 billion by March 2031, compared to about ¥190 billion in the most recent full year. Sales from thermal coal power and hydrogen businesses amounted to ¥222.5 billion in the year ended March 31, representing 6.6% of total sales.


By Aya Takada and
Stephen StapczynskiSource: Japan Times