A group of 190 countries, regions, and companies will agree, on Thursday, to commit to the end of coal power at the COP26 climate summit, the UK government has announced.
“Signatories of the COP26 agreement would commit to shun investments in new coal plants at home and abroad, and phase out coal-fuelled power generation in the 2030s in richer countries, and the 2040s for poorer nations,” the British government said.
Major coal countries Poland and Vietnam are among 18 nations committing to phase out the use of the world’s dirtiest fossil fuel for the first time.
Coal is the most polluting fossil fuel and greenhouse gas emissions from burning it are the single biggest contributor to climate change.
Ending its use will be crucial to getting the world on track for limiting global temperatures to 1.5C above pre-industrial levels, the aspiration of the Paris Agreement.
British business secretary Kwasi Kwarteng said that the new commitment marks “a milestone moment in our global efforts to tackle climate change,” according to Reuters.
Nations agreeing to a new UK-led statement have committed to ending all investment in new coal power generation at home and overseas, the government said.
The new pact will see major economies phasing out coal power in the 2030s and the rest of the world ending use in the 2040s.
A landmark report from the International Energy Agency has warned earlier this year that rich nations should phase out coal by 2030 at the latest, with the rest of the world joining by 2040, if the world is to reach net-zero. It added that investment in all fossil fuels must end immediately.
Lauri Myllyvirta, the lead analyst for the Centre for Research on Energy and Clean Air, said the news was promising but sooner targets are necessary.
“Given the urgency of emission reductions to keep the Paris Agreement goal insight, and the heavy burden of air pollution on public health, it is however essential for countries to firm up their targets for this decade,” he said.
However, there’s still no commitment from large emitters like China on the phase-out of other fossil fuels or to stop increasing coal at home.
The UK government also announced 28 new members have signed up on Wednesday to its Powering Past Coal Alliance, an initiative it co-chairs with countries including Chile and Singapore.
Several finance announcements are expected at COP26 on Thursday to accompany the coal pledges – both through new investments in clean power, and funds to support workers and regions that depend on the coal sector for their livelihoods.
Countries including the UK and the United States announced an $8.5 billion partnership with South Africa at the COP26 conference on Tuesday, to help the country phase out coal faster.
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