Asia's Pandemic Stimulus May Slow the Demise of Coal

News

  • News
  • 12 May 2020
    • Share

Asia's Pandemic Stimulus May Slow the Demise of Coal

Coal power plant construction will push ahead in Asia despite falling electricity demand and environmental concerns as policymakers prioritise boosting economies crippled by the coronavirus pandemic, analysts say. China, which produces and consumes about half of the world’s coal, has in recent weeks said it would allow more provinces to start building coal power plants starting in 2023. “China and other governments may be tempted to invest in coal power to help their economies recover after the COVID-19 pandemic,” said Matt Gray, co-head of power and utilities at Carbon Tracker, a climate think tank. If such a scenario unfolds, it would create a short-term jolt at the expense of efficiency as well as environmental damage.

Posted by

Reuters

Copyright ©Bursa Malaysia Berhad (30632-P). All rights reserved.