China is considering a coal to gas ban in the wake of the Lima climate talks, we report.
An analysis by Greenpeace and Energydesk found China’s pipeline of coal to gas projects could release more than 1bn tonnes of carbon dioxide each year if developed.
We also report that the planned expansion of coal burning in India will double or triple the amount of premature deaths from air pollution by 2030.
Top 3 stories
1) IEA warns coal demand to pass 9bn tonnes this decade
The IEA’s remarks were made following a UN climate summit in Lima, Peru, where there were calls to halt fossil fuels demand by cutting emissions from them to zero by 2050. But the final agreement did not include this proposal, and asked member states to announce their emissions plans by 31 March.
The FT highlights that the falling oil prices and weakness in commodity currencies will provide a boost for struggling coal miners – also according to the IEA, which expects global demand for the fuel to slow over the next five years.
Reuters reports that tumbling oil, coal and iron ore prices are now all at levels last seen during or before the financial crisis of 2008/2009, signalling not only the impact of a glut of supplies but deeper weakness in parts of the global economy, analysts say.
Meanwhile, Euractiv reports that the IEA says Europe’s coal renaissance was ‘only a dream’, a spike caused by low prices, high gas costs, and the partial shutdown of German nuclear plants – and coal demand in Europe has continued to decline since.
2) China’s coal demand under scrutiny
China’s relationship to coal is under scrutiny following the Lima Summit, with Deutsche Welle summarising “[China] has a long road ahead to free itself from its dependence on coal. Future climate stability depends on how fast it succeeds.”
The Telegraph reports global coal prices have been hit by China’s coal slowdown hitting demand.
But The Sydney Morning Herald writes China is ‘still loving’ Australian coal.
3) UK wind industry investment mixed bag
Mixed news for the UK renewables industry this morning.
Investment firm Maquarie has boosted the onshore wind market in with a £60 million loan to fund a portfolio of seven onshore wind farms across the UK, according to Business Green.
But the site also reported that private equity firm Terra Firma said it was considering selling its majority stake in the renewable energy firm Infinis. Terra Firma’s owner Guy Hands this month issued a scathing critique of the government’s wind farm policy.
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