<
https://chinadialogue.net/en/business/how-to-keep-coal-unprofitable-in-china/>
"The general global turmoil since 2020 has sent many markets and sectors on
rollercoaster rides. Rocketing energy prices, in particular, have had
significant impacts. While most global energy businesses watched the money roll
in, China’s state-owned coal power enterprises suffered losses of over 100
billion yuan (US$13.9 billion) in 2021.
The business situation did not improve for the sector in 2022, according to the
latest annual report from the China Electric Council, a sector-wide watchdog.
The loss of coal power profitability was accompanied by a tight balance between
supply and demand, with power cuts in multiple parts of China between 2020 and
2022.
In terms of emissions reduction and climate security, this was good news.
Research has shown that to limit global warming to 1.5C above pre-industrial
levels, the atmosphere must not absorb more than 400 gigatonnes (GT) of CO2,
calculated from the beginning of 2020. Current annual CO2 emissions from
burning fossil fuels, industrial processes and land-use change are estimated at
42.2GT. In other words, business as usual will mean burning through the 400GT
carbon budget in less than eight years. Coal may be cheaper than oil and
natural gas, but it is also more carbon-intensive. The climate clock is ticking
and coal needs to be phased out as soon as possible.
As external factors such as market forces change, coal power may well regain
its lost profitability. If the necessary emissions-reduction policies and
measures were actually in place however, such losses would simply be
inevitable."
Via
Future Crunch:
<
https://futurecrunch.com/good-news-breastfeeding-trachoma-iraq-golden-lion-tamarin-brazil/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
