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COP26 President Alok Sharma praised action on coal during a press conference at the climate summit in Glasgow, on Thursday, saying “the end of coal is in sight.”
“Today, we are seeing action on coal and it’s at the heart of the energy transition,” he said. “Thanks to a package of support from the UK and our international partners, a 190-strong coalition has today agreed to phase out coal power and end support for new coal power plants. I think we can say with confidence that coal is no longer king.”
He added, “It is uneconomic. The G-20 will end its financing for international coal this year, investors are also bailing out and today, amongst other institutions, NatWest, HSBC, Fidelity International, and Lloyds Banking Group are joining the Powering Past Coal Alliance. Countries are turning their back on coal and towards cheaper, cleaner renewables.”
As a start, Canada, the USA, and Denmark have pledged to a UK-proposed paper aiming at ending the use of coal by the end of 2022.
World leaders are gathered in Glasgow for the COP26 climate summit to find new agreements on policies to address climate change.
#COP26 #UK
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