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Major Chinese Asset Managers Have No Plans to Phase Out Fossil Fuel Investments

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(Reuters) – Major Chinese asset managers have billions of dollars invested in fossil fuels with no plans for a phase out, a new Greenpeace report said. The environmental organisation’s analysis of 16 major Chinese asset managers released on Thursday said that they have invested a combined 267.2 billion yuan ($36.79 billion) in high-carbon sectors and …

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More Than 800 Coal Plants Worldwide Could be Profitably Decommissioned, Research Group Says

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(Reuters) – More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled to shut down by 2030, more could close if efforts are made to …

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Major World Economies Seek to Halt New Private Sector Coal Financing

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Summary Proposal would restrict private finance for new coal plants Aims to increase finance to retire existing plants early OECD countries considering proposal, want deal by COP29 Backers include France, U.S., UK. Japan pushes back (Reuters) – Some of the world’s major economies want to finalise a plan ahead of this year’s U.N. climate summit …

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Coal’s Australian Reprieve Is an Energy Transition Reality Check

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Bloomberg Australia’s leaders like to portray the nation as a trailblazer in the energy transition, touting a solar buildout that has installed panels on almost one in three rooftops and rapid growth in battery storage. The more valuable lesson, though, may be in its struggle with coal. Eraring, the country’s largest power plant, burns through as much as 6 million …

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Japan is Opening Coal Plants, Not Closing Them

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The Dog Ate Japan’s Plan to Phase Out Coal Power By David Fickling David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. With blistering speed, the rich countries that built their wealth on coal-powered industrialization are turning their …

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Italy Pushes G7 For Coal Phase-Out Date Ahead of Energy Meeting, Sources say

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Italy is pushing for an agreement among the Group of Seven wealthy nations to set a target date for the phase-out of coal in power generation, diplomatic sources said ahead of a meeting of G7 energy ministers in Turin. An agreement on this would be one step in the direction indicated by the COP28 United …

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Biden’s Power-Plant Pollution Rule Collides With Soaring Demand

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Coal plants must stifle most of their carbon or close by 2039 Emissions cuts will start to hit new gas plants in 2032 Bloomberg The Biden administration is cracking down on planet-warming pollution from the nation’s electricity sector, with mandates likely to encourage the closure of coal plants that advocates argue are vital to meet …

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India’s Coal Sector Sees Huge Leaps in Output and Demand

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(Reuters) – India’s coal sector is united about one thing. It doesn’t matter if you are a miner, trader, utility or steelmaker, you are bullish, extremely bullish. The overarching theme at this week annual Coaltrans India conference in the western state of Goa is that coal production, imports and demand are all going to rise …

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FirstEnergy Scraps 2030 Climate Goal in Rare Embrace of Coal

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Two coal-fired plants are crucial to company’s power supplies Utilities under growing pressure to clean up generation fleets Bloombert FirstEnergy Corp. abandoned its 2030 target for slashing greenhouse-gas emissions because coal plants can’t be replaced in time, marking a major about-face in the movement to protect the climate. Utilities across the US have announced a slew …

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