China is building more than half of the world's new coal power plants

Adam Vaughan is a writer.

China was responsible for more than half of the new coal power station capacity being built around the world last year.

At the COP26 climate summit last year, nearly 200 countries pledged aphasing down of coal. Figures from a report by the Global Energy Monitor show that isn't happening yet. Coal power stations are growing as new constructions more than offset the closing of old plants.

China accounted for 52 per cent of the new coal-fired stations under construction in 20 countries last year. Despite the fact that no new coal projects can be built if climate goals are to be met, the global figure is the same as it was in 2020.

It is a mixed story. According to one of the report's authors, plans for new coal-fired power plants have been scaled back dramatically outside of China. That is a worrying sign.

Myllyvirta says there is no expectation that China will change course on coal this year, despite the fact that 13GW of plants have already been canceled. He expects more to be canceled this year because of the move.

The report shows that plans for new coal in emerging markets like Bangladesh, India and Vietnam have been put on hold due to policies and economics. A future deal like the one with South Africa last year, where rich countries provided finance for a shift away from coal, is often cited as a candidate for Vietnam.

A record amount of coal was burned last year, triggering bumper profits for coal mining companies and prompting talk of a coal comeback. Myllyvirta says it is delusional to think that the fuel is a new normal because gas became so expensive.