Vietnam’s addiction to coal shows tough climate choices developing Asia faces on emissions pledges
- Coal already accounts for about a third of the country’s operational energy mix and its capacity is set to increase by 2030 under a new draft development plan
- Most of Vietnam’s operational coal capacity has been funded by firms from China, Japan, South Korea, and to a smaller extent, the US – all countries that are trying to decarbonise
Ahead of next week’s COP26 climate summit, aimed at extracting fresh pledges from world leaders to bring down carbon emissions, an ongoing energy crunch is driving up demand for coal globally.
Yet nowhere is this addiction to dirty fuel more visible than in the Asia-Pacific, which accounts for about three-quarters of worldwide coal consumption.
A recent report from non-profit financial think-tank Carbon Tracker showed that five Asian countries – China, India, Indonesia, Japan and Vietnam – are responsible for 80 per cent of the world’s planned coal-fired power stations.
As more of the region’s financial institutions slow down or stop their investments in coal, environmentalists are urging wealthier nations to help poorer ones build up infrastructure and know-how for renewable energy generation.
COAL FOR GROWTH
