Coal growth in decline, WWF demands coal phase-out of the global energy system by 2050

Posted on 18 December 2015    
Coal factory, China. Used with permission from the photographer [www.iamtonyang.com]
© Tony Yang

Responding to today's published report by the International Energy Agency (IEA) demonstrating that strong coal growth is over, WWF demands that coal will be completely phased out of the global energy system by 2050 latest.

 
Published right after the COP21 agreement that established a clear goal to move away from fossil fuels and to renewable energy, the IEA report sharply downgrades coal demand forecasts and indicates  that commercial opportunities for unabated coal use has dwindled. (1)
 
Financial institutions anticipate big risks in funding coal projects as the industry is experiencing unprecedented stranded assets and shareholder wealth destruction. During the last year and following the outcome of COP21 many coal companies witnessed share prices decimated. (2)
 
IEA has finally recognised the overall constrains and negative impacts of coal and predicts coal peak and falling demand by 2020 in its market report.
 
“The COP21 agreement sent a strong signal to the governments around the world to continue phasing-out of fossil fuels. While EU coal is already in decline  the EU coal power carbon emissions needs to be cut three times faster than currently planned, in order to avoid the worst impacts of climate change” (3), said Darek Urbaniak, Energy Policy Officer WWF European Policy Office.
 
“Instead of funding unproven technologies such as Carbon Capture and Storage (CCS) and High-Efficiency, Low-Emissions (HELE) coal technologies WWF urges the EU to give a preferential support for renewable energy and energy efficiency”, said Imke Lübbeke, Head of Climate and Energy, WWF European Policy Office.

Ends
 
Notes to the editors:
  1. IEA Coal Medium – Term Report Market Report  2015
  2. Coal Stocks Will Only Get Worse – Don’t Bargain
  3. End of an Era: Why every European Country Needs a Coal Phase-out Plan
 
 Contacts:
 
Darek Urbaniak
Energy Policy Officer
WWF European Policy Office
DUrbaniak@wwf.eu
+32 495 46 02 58
 
Andrea Crasselt
Communications
WWF European Policy Office
ACrasselt@wwf.eu
+ 32 491 95 07 43
Coal factory, China. Used with permission from the photographer [www.iamtonyang.com]
© Tony Yang Enlarge

Subscribe to our mailing list

* indicates required
Donate to WWF

Your support will help us build a future where humans live in harmony with nature.

Enter Yes if you accept the terms and conditions
Enter Yes if you accept the terms and conditions