How can countries begin to transition away from coal without leaving anyone behind?
Coal plants must close at nearly five times the current rate to help limit global warming to 1.5C. It is a sobering figure that reiterates the importance of acting fast.
Coal retirement and repurposing is a complex task. Policymakers and key energy sector stakeholders, including asset owners, must accelerate the move away from coal while protecting the people who depend on it.
To do this effectively, decision-makers must factor in energy security, environmental impacts, and the financial viability of repurposing or retiring those plants alongside plant-level characteristics. This is on top of the need to promote a just transition away from coal-fired power plants. Getting this balancing act right is resource and time-intensive but essential.
As countries seek to end their dependence on coal, the Carbon Trust created frameworks to lay out the foundations for a just coal-to-clean energy transition.