The End of Coal Could Be Closer Than It Looks
Despite a pessimistic forecast, it’s possible to meet consumption-cut targets on the current path. By David Fickling
Dramatically cutting coal consumption isn’t as far-fetched as it seems. Photographer: Kevin Frayer/Getty Images AsiaPac David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian. Read more opinion
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Should we just give up now?
The world’s electrical utilities need to reduce coal consumption by at least 60 percent
Thanks to expansions in China and India, BNEF expects coal-fired generation to keep rising until 2027
Source: Bloomberg New Energy Finance
Such a target seems wildly ambitious: Even Bloomberg New Energy Finance, which tends to be more optimistic than other analysts (and more accurate) about the speed of energy transition, expects coal-fired generation to increase by 10 percent over the period. Hold on though. Is it really such a stretch?