Consumption of coal has been on a slightly downward-sloping plateau for some years.
But now it is time to topple it for good.
In 2020 use of the black stuff declined by 7%. But for the world to meet the ambitions it set itself at the Paris climate summit, it would need to drop by 11% every year for a decade.
Coal’s decline in the West has been made possible by three mutually reinforcing developments: government policy, cheaper alternatives and restricted access to capital. Banks have tightened finance for coal, too, wary of stricter regulation, stranded assets and continued pressure from green investors.
But now it is time to topple it for good.
In 2020 use of the black stuff declined by 7%. But for the world to meet the ambitions it set itself at the Paris climate summit, it would need to drop by 11% every year for a decade.