Global Coal Capacity Continues to Grow Despite Climate Pledges and Phase-Out Efforts.

Despite global promises to phase down coal, the capacity to burn coal for power increased by 1% in 2022, with nearly all newly commissioned coal projects in China, according to a report by Global Energy Monitor. China accounted for 92% of all new coal project announcements. To meet climate goals set in the 2015 Paris Agreement, coal plants in rich countries need to be retired by 2030 and coal plants in developing countries need to be shut down by 2040, but only 26 gigawatts of coal was retired in 2022, far short of the 117 gigawatts needed.