- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
RBGPF | -1.35% | 59.99 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
GSK | -2.81% | 38.37 | $ | |
SCS | -1.98% | 12.62 | $ | |
RELX | -1.46% | 46.61 | $ | |
BP | 0.28% | 32.46 | $ | |
CMSC | -0.16% | 24.74 | $ | |
NGG | -2.7% | 66.97 | $ | |
AZN | -2.12% | 77.93 | $ | |
RIO | -1.42% | 69.83 | $ | |
BTI | -2.45% | 35.11 | $ | |
VOD | -0.52% | 9.69 | $ | |
BCC | -0.9% | 138.29 | $ | |
JRI | -0.6% | 13.3 | $ | |
CMSD | -0.16% | 24.89 | $ | |
BCE | -1.77% | 33.84 | $ |
China speeding up approvals for new coal plants: Greenpeace
China has ramped up approvals for new coal power plants this year, Greenpeace said Wednesday, with authorities trying to lower the risk of economically painful electricity shortages.
China is the world's biggest emitter of the greenhouse gases driving global warming, and President Xi Jinping last year vowed to phase down coal use from 2026 as part of an ambitious set of national climate commitments.
But campaigners fear those targets are under threat with the government focused on economic challenges, even as the deadly impact of climate change is felt around the world.
In the first quarter of 2022, Chinese regulators gave the green light to coal plants with a total capacity of 8.63 gigawatts, according to research conducted by Greenpeace.
That is nearly half of the entire coal-fired capacity approved last year, the environmental campaigners said.
"Building more coal-fired power capacity will not provide energy security for China," said Wu Jinghan, climate and energy campaigner with Greenpeace in Beijing.
"China has an overcapacity of coal-fired power plants. Power inadequacies originate from poor integration of generation, grid, load and storage."
The figure for new coal plant approvals dipped in mid-2021 but rebounded later in the year as China experienced widespread power outages due to a supply crunch.
Electricity consumption has surged this summer as China suffers through an intense heatwave, with air conditioning cranked up at homes and businesses to try and keep people cool.
China relies on coal for around 60 percent of its electricity, and has asked domestic miners to increase capacity by 300 million tons this year.
The State Council, China's cabinet, in May announced 10 billion yuan ($1.5 billion) of investment in coal power generation, as coal producers were pressured to ramp up output before the 2025 threshold.
"An overcapacity of this one energy source is a major hurdle for energy security, as well as China's energy transition," Wu warned.
Skyrocketing global commodity prices in the wake of Russia's invasion of Ukraine have renewed China's focus on energy security.
As the Chinese economy stalls under strict Covid policies and prolonged supply chain disruptions, authorities are looking to boost growth through a massive infrastructure construction push -- which relies overwhelmingly on coal power.
China is the world's biggest coal consumer and producer, and analysts worry that economic targets will derail its pledge to peak carbon emissions by 2030.
A.Agostinelli--CPN