OECD calls for end to new coal-fired power generation

• 8 years ago (2015-07-06)
• David Flin

Renewables 752

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Angel Gurria, Secretary-General of the OECD, has called for an end to new coal-fired power plants. In a lecture at the London School of Economics, Gurria said that the most urgent threat to climate policy is new investment in unabated coal-fired electricity generation. He said: “Between now and 2050, if no further mitigation measures are undertaken, coal generation is projected to emit more than 500 Gt of CO2. That is around half the remaining carbon budget consistent with staying under 2°C.”

Gurria also said that new coal investment wasn’t just bad for the environment, it was a very risky investment. “Governments need to be seriously sceptical about whether new coal provides a good deal for their citizens. If we muster the political will to set ourselves on a 2°C trajectory today, not all coal assets will be able to run for their full economic lifetime. Unsurprisingly, if we delay action, we will have to strand much more capacity overall, as steeper reductions will be required.”

Alternatives now cost competitive with coal, depending on the region, include onshore wind, biomass, hydro, geothermal and solar power. Since 2000, 60 per cent of total power plant investments have been in low-carbon technologies. Even so, between 1990 and 2013, coal burnt for electricity generation doubled.