Environment

Coal generation to shrink to 10% in 2030.

A low carbon recovery can help restore job demand, fiscal balances.

This will support the 8.9 GW of new wind power capacity expected to be added by then.

China currently comprises about 38% of global emissions.

Wholesale electricity prices are sinking lower than it costs to buy coal.

Antonio Guterres expressed concern that new coal plants are still being financed.

Governments have been prioritising immediate needs such as wage subsidies.

Power sector planners assumed that locking in coal would lead to a least-cost system.

It received criticisms in funding such plants in Indonesia and Vietnam.

Energy demand across Asia is surging and expected to grow by two-thirds by 2040, according to the International Renewable Energy Agency. At the same time, more than 65 million people mostly in Southeast Asia are without adequate or reliable access to electricity.

The relaxation of lockdowns failed to drive power demand.

The call for projects for its renewable energy zones saw 113 registrations of interest.

These make up nearly 90% of the country’s power plants built before the mid-1990s.

They also recommended introducing carbon pricing.

The country aims for peak CO2 reduction by around 2030 latest.

Congress has approved a resolution against permitting new coal plants.