China has been building an empire of coal plants intensively since the year of 2000. The same path was taken by other developing countries, especially India. This resource alone managed to sustain a ridiculous economic growth for China. Coal also helped millions of Chinese villages to escape poverty. However, the ecological impact of so many coal plants might be irreversible. A new report brings a glimpse of hope that a 2016 construction decline might have tempered the insatiable industry of fossil fuel.
The Construction Decline Was Fueled by Chinese Government and Indian Banks
India and China dominated a period of 10 years starting with 2006 with their power plants. Their newly built coal stations accounted for 85% of the global number of such constructions. However, a new report called the Boom and Bust 2017 claims that its findings noticed the beginning of a construction decline. The document is compiled by the joint efforts of several green campaign groups. These are the Sierra Club, Greenpeace, and CoalSwarm. They highlighted the fact that in just a span of 12 months, these two countries turned a little away from coal.
The main obstacle that slowed down the constructions of coal plants has actually an environmental nature. The country is currently dealing with a thick smog that impairs the health of its citizens. Thus, the government is looking at replacing old coal plants with new environmentally friendly systems. Moreover, policymakers ordered restrictive measures. These managed to put the building of 600 units based on coal power on hold for at least three years.
As far as India is concerned, the country is facing financial struggles. Banks started to refuse to grant loans that are necessary for the funding of such projects. As a consequence, the work at 13 units has been stagnated.
This New Trend Can Maintain Global Warming under 2 Degrees Celsius
To this movement, the report added another series of obsolete constructions. Over the past two years, Europe and the United States ordered the retirements of old coal plants. There were almost 120 major units which are no longer producing power thanks to these decisions.
The conclusions of the study are hopeful. They state that this construction decline together with the shy emergence of renewable energy plants will be enough to keep global warming under 2 degrees C. This is considered a feasible reach. On the other hand, the second biggest threat to the environment is the progress of coal plants in Indonesia, Japan, Vietnam, and Turkey.
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