Based on the results of a new investigation, if the European Union wants to meet its climate change goals, all its coal power plants must be closed by 2030. Climate Analytics is the research institute responsible for the new findings.
If the European Union wants to achieve the goal of the Paris Agreement to control the rise in global temperature by less than 2 degrees Celsius, all the 315 coal-fired power facilities in Europe must be phased out. It is not an option to allow the power stations to simply run up to the end of their natural life because EU must undertake immediate steps to stay on track with the temperature control goals.
According to the executive summary of the report, one fourth of the power plants operating in Europe have to be switched off before 2020 to stay within the temperature limit provided in the Paris Agreement. The remaining 47% has to go offline by 2025. If the EU wants to meet its commitment in the Paris Agreement, investments in existing plants and new powers plants will not recovered.
Climate Analytics arrived at these warnings by projecting present fossil fuel trends and by estimating the carbon budget of EU including predicting what will happen by 2050. Based on the estimates of EU’s carbon budget at 6.5 G+CO2 by 2050 and by assuming that coal-fired power plants will still be operating by that time, the EU will be exceeding its CO2 emissions budget by at least 85%.
The figures are only projections but nevertheless, the report indicates that coal must be phased out aggressively if EU wants to achieve the target set during the Paris Agreement. One of the cheapest methods for the EU to cut down on its carbon emissions and meet its commitment in the Paris Agreement is to phase out coal in the electricity industry and replace it with renewable and energy efficient fuel.
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