Ted Nace

Ted Nace's Blog Posts

Follow the (Taxpayer) Money: Introducing the Global Coal Finance Tracker

Two months after the IPCC special report Global Warming of 1.5°C, and with the start of the COP24 climate conference in Poland, the world is watching to see if countries will shift from expanding to retiring the global fleet of coal-fired power plants. In order to shine light on government financial support for coal plants, CoalSwarm has developed a new tool, the Global Coal Finance Tracker.

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NEW REPORT: Global Coal Plant Development Freefall Sparks Renewed Hope On Climate Goals

WASHINGTON, D.C. — The number of coal-fired power plants under development worldwide saw a dramatic drop in 2016, mainly due to shifting policies in Asia, according to a new report released today by Greenpeace, the Sierra Club, and CoalSwarm. The report, Boom and Bust 2017: Tracking The Global Coal Plant Pipeline, is the third annual survey of the global coal plant pipeline. Its findings include a 48 percent decline in overall pre-construction activity, a 62 percent drop in new construction starts, and an 85 percent decline in new Chinese coal plant permits.

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NEW REPORT: Nearly $1 Trillion Wasted Globally On Extraneous Coal Projects

Boom and Bust 2016 is the second annual report published by Greenpeace, The Sierra Club and CoalSwarm examining the precarious global coal plant pipeline. The report reveals that while the coal industry continues to push for the construction of more coal-fired power plants, in reality, coal plants are increasingly sitting idle in all of the world’s four largest markets, and global coal consumption is declining drastically. This is particularly evident in China where the government recently took the first step to curb runaway coal plant investment, after the country’s coal use plunged by nearly 6.4 percent in two years.

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The Worldwide Coal Boom Is Going Bust

Sierra Club and CoalSwarm report details the findings of an extensive investigation into every proposed coal-fired power plant worldwide since 2010. The report reveals that the boom in coal-fired electricity is going bust. Worldwide, for every new coal plant built, two have been shelved or cancelled since 2010.

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