New coal plant pipeline drops 14% in past 6 months
When world leaders finally got on the same page about the Paris climate agreement back at the end of last year, there were those who celebrated and those who said it didn't go far enough. And then there were many of us who did both.
While there's no doubt that climate change makes a compelling case for a rapid divorce from our fossil fueled ways, most of us also understand that it takes a long time to turn around a giant tanker. And Paris will hopefully be seen as the point where the tanker started turning.
Evidence is beginning to roll in to suggest that may be exactly what's happening. As reported over at DeSmogBlog, there's been a rapid decline in the world's expected new coal plant construction pipeline, with Asia—and China in particular—taking the lead in shifting its course:
Between January and July 2016 there has been a 14 percent decline in the amount of coal power capacity in the pipeline, down 158 gigawatts (GW) from 1,090 GW to 932 GW. This is about equal to the European Union’s entire coal-fired generating capacity (162 GW).
If you're invested in coal, now might be a good time to rethink your exposure. You wouldn't be alone.