Thread by @bstorrow

Consign coal to history? That's been a COP rally cry.
The truth is... complicated:

- World on track for record coal burn in 2022.
- Asian coal plants average age 13 years.
- Nat gas not as readily available in Asia, as in US.

eenews.net/articles/coal-…

On the other hand. New project pipeline is collapsing. Down 75% since 2015, when Paris was signed. Many countries (India is a prominent example) have scaled back plans for new plants. Building renewables instead.

OECD has retired or plans to retire 56% of coal since 2010

So what's it mean?

“Consigning coal to history at COP is not going to end coal overnight, but it is that sense that coal is on the conveyor belt to the great trash compactor of history. We’ve got to turn the speed of that conveyor belt up" - @chrislittlecott

One important example of the conveyor belt speeding up is the deal with South Africa. US, UK, EU paying up to $8.5B to held Eskom, the state owned utility, to retire its aging coal plants. Unlike Asia, South African coal plants are old.

cnn.com/2021/11/02/afr…

At the same time, thinking Asia is unlikely to follow the U.S. or European path on coal retirements.

“In some way, the advanced economy model was: Let’s find something that is cheaper than coal, and the market will take care of it. That is not where we are in Asia" - @ntsafos