Coal phase-out
Environmental policy intended to stop using coal / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Coal phase-out?
Summarize this article for a 10 year old
Coal phase-out is an environmental policy intended to stop burning coal in coal-fired power plants and elsewhere, and is part of fossil fuel phase-out. Coal is the most carbon-intensive fossil fuel, therefore phasing it out is critical to limiting climate change as laid out in the Paris Climate Agreement.[4][5] The International Energy Agency (IEA) estimates that coal is responsible for over 30% of the global average temperature increase above pre-industrial levels.[6] Some countries in the Powering Past Coal Alliance have already stopped.[7]
China and India burn a lot of coal.[8] But the only significant funding for new plants is for coal power in China.[9] The health and environmental benefits of coal phase-out, such as limiting biodiversity loss and respiratory diseases, are greater than the cost.[10] Developed countries may part finance the phase out for developing countries through the Just Energy Transition Partnership, provided they do not build any more coal plants.[11] One major intergovernmental organisation (the G7) committed in 2021 to end support for coal-fired power stations within the year.[12] It has been estimated that coal phase-out could benefit society by over 1% of GDP each year to the end of the 21st century,[13] so economists have suggested a Coasean bargain in which developed countries help finance the coal phase-out of developing countries.[14]