Challenge
Limiting global warming to 1.5°C will require global coal use in electricity generation to fall by 80% from 2010 to 2030. Planned coal projects must be cancelled and existing coal power must be phased out rapidly.
Solution
Launched report on 'How to waste half a trillion dollars', warning investors and governments that renewables are destroying the economic case for coal. Coal developers risk wasting $638 billion on 500GW of planned coal projects because it is already cheaper to generate electricity from new renewables. New wind or solar is already cheaper than 60% of existing coal power and by 2030 at the latest it will be 100%.
Result
Delivered extensive global media coverage with more than 900 articles across 24 countries. Highlights included news agencies Reuters, AFP, PA, DPA, ANSA, coverage on BBC international and domestic bulletins, Caixin (China), Economic Times (India), Sydney Morning Herald, Guardian, Handelsblatt and Wyborcza (Poland).
Impact
A successful launch communicated the powerful economic case for a rapid phase out of coal to a global audience, providing ammunition to investors and campaigners. We secured significant coverage in key countries: China and India, with the world's largest coal power capacity; Australia, the world's second largest coal exporter; and European countries with the biggest coal capacity.
Media Coverage
