Why are new coal plants still being built despite climate warnings?

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New Coal Plants Continue to Be Built Despite Climate Warnings Due to Regional Development and Existing Commitments

The construction of new coal-fired power plants persists globally despite dire climate warnings primarily driven by ongoing development in China and continued reliance on coal in South and Southeast Asia. While the overall pipeline for new coal capacity has shrunk significantly since the 2015 Paris Agreement, with a 13% decrease in 2021 to 457 gigawatts (GW), substantial capacity remains under construction. This situation is occurring even as international bodies like the UN's Intergovernmental Panel on Climate Change and the International Energy Agency have stressed the necessity of halting new coal plant construction and rapidly phasing out existing ones to limit global warming.
China Accounts for a Significant Portion of New Coal Capacity

China is a primary driver of new coal-fired power development, representing just over half of the global pipeline for new coal capacity. Furthermore, three-quarters of the new coal power plants that commenced construction in the past year were located in China. This continued investment in coal occurs even as China has committed to peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, indicating a complex balancing act between development goals and climate commitments.
South and Southeast Asia Continue to Expand Coal Infrastructure

The regions of South and Southeast Asia collectively account for another 37% of new coal capacity in the global pipeline. This sustained development in these areas contributes to the ongoing construction of coal-fired power plants, even as many emerging economies, such as India, Vietnam, and Bangladesh, have reportedly reduced their plans for new coal capacity. The specific factors driving continued coal development in these regions are not detailed, but they represent a significant portion of the remaining new coal power projects.
Developed Nations Show Mixed Progress in Coal Phase-Out

In contrast to the ongoing development in parts of Asia, developed nations are demonstrating varied progress in phasing out coal. The European Union retired a record 12.9 GW of coal capacity in 2021, with Portugal achieving a coal-free status ahead of its target. However, in the United States, efforts to reduce coal usage have slowed, with the amount of US coal capacity retired in 2021 declining for the second consecutive year. To meet its climate objectives, the US would need to retire approximately 25 GW of coal capacity annually until 2030.

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Why are new coal plants still being built despite climate warnings?

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