Over 40 Countries Pledge to Quit Coal 

Addis Ababa, November 4, 2021 (FBC) – More than 40 countries pledges at COP26 summit to shift away from using coal as source of power.

Major coal-using countries including Poland, Vietnam and Chile are among those to make the commitment.

But some of the world’s biggest coal-dependent countries, including Australia, India, China and the US, did not sign up to the pledge.

Coal is the single biggest contributor to climate change.

Signatories have agreed to ending all new investments in coal at home as well as abroad.

They have thus agreed to phase out coal power in the 2030s for major economies, and in the 2040s for developing nations.

Besides, dozens of organizations signed up to the pledge, with several major banks agreeing to stop financing the coal industry.

“The end of coal is in sight,” UK business and energy secretary Kwasi Kwarteng said.

“The world is moving in the right direction, standing ready to seal coal’s fate and embrace the environmental and economic benefits of building a future that is powered by clean energy.”

But UK shadow business secretary Ed Miliband said there are “glaring gaps” from some large emitters, with no commitment to stop coal use domestically.

In addition, nothing was said when to phase out oil and gas.

Source: BBC