{"id":26999,"date":"2021-11-08T09:39:15","date_gmt":"2021-11-08T07:39:15","guid":{"rendered":"https:\/\/euea-energyagency.org\/?p=26999"},"modified":"2021-11-08T09:39:15","modified_gmt":"2021-11-08T07:39:15","slug":"77-countries-and-organisations-committed-to-phasing-out-of-coal-ending-investment-in-coal-and-scaling-up-investment-in-renewables-on-cop26","status":"publish","type":"post","link":"https:\/\/euea-energyagency.org\/en\/news\/market-news\/77-countries-and-organisations-committed-to-phasing-out-of-coal-ending-investment-in-coal-and-scaling-up-investment-in-renewables-on-cop26\/","title":{"rendered":"77 countries and organisations committed to phasing out of coal, ending investment in coal, and scaling up investment in renewables on COP26"},"content":{"rendered":"<p class=\"p1\" style=\"text-align: justify;\">? \u00abPower systems in many, many developing countries are not equipped today to take on that much renewable energy capacity,&#8221; CIF chief Mafalda Duarte at the COP26 climate summit.<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2705 The Powering Past Coal Alliance &#8211; an international campaign aimed at phasing out the fuel &#8211; said it had secured 28 new members, including Ukraine, which pledged to quit the fuel by 2035. Coal produced roughly a third of Ukraine&#8217;s power last year.<\/p>\n<p class=\"p3\" style=\"text-align: justify;\"><a href=\"https:\/\/www.france24.com\/en\/europe\/20211104-cop26-190-nations-and-organisations-agree-to-phase-out-coal\">https:\/\/www.france24.com\/en\/europe\/20211104-cop26-190-nations-and-organisations-agree-to-phase-out-coal<\/a><span class=\"s1\"> <span class=\"Apple-converted-space\">\u00a0<\/span><\/span><\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u27a1\ufe0fThe new \u2018Global Coal to Clean Power Transition Statement\u2019 has been signed at COP26 by 77 countries and organisations, including 46 countries, committed to phasing out of coal, ending investment in coal, and scaling up investment in renewables.<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2714\ufe0fFurther progress includes:<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2022<span class=\"Apple-converted-space\">\u00a0 <\/span>over $20 billion to support the global coal to clean power transition has now been announced at COP26 covering<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2022<span class=\"Apple-converted-space\">\u00a0 <\/span>$10 billion of philanthropy-led financing to support developing countries deploy clean power under the Global Energy Alliance People &amp; Plant (announced on day 2);<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2022<span class=\"Apple-converted-space\">\u00a0 <\/span>$8.5 billion for the South Africa Just Energy Transition Partnership;<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2022<span class=\"Apple-converted-space\">\u00a0 <\/span>$2 billion under the CIFs Accelerating Coal Transition facility.<\/p>\n<p class=\"p1\" style=\"text-align: justify;\">\u2705 Ukraine, Fiji, Colombia, Kenya and Mali were announced as selected for support through the Renewable Energy Integration (REI) programme that will help developing countries transform their power grids to carry growing levels of renewable energy.<\/p>\n<p class=\"p1\" style=\"text-align: justify;\"><span class=\"Apple-converted-space\">\u00a0<\/span>&#8211; The Climate Investment Funds (CIF), created by the world&#8217;s biggest economies in 2008 to help developing countries accelerate their shift to a low-carbon economy, said its new initiative would help those countries bridge a huge gap in investments needed to integrate renewable energy sources.<\/p>\n<p class=\"p1\" style=\"text-align: justify;\"><span class=\"Apple-converted-space\">\u00a0<\/span>&#8211; Experts estimate that global infrastructure investments will have to ramp up to $820 billion annually by 2030 to facilitate the decarbonization of power systems and help refit or replace existing infrastructure so it can integrate alternative energy.<\/p>\n<p class=\"p3\" style=\"text-align: justify;\"><a href=\"https:\/\/www.reuters.com\/business\/cop\/exclusive-power-grids-five-emerging-countries-get-investment-support-2021-11-04\/me\">https:\/\/www.reuters.com\/business\/cop\/exclusive-power-grids-five-emerging-countries-get-investment-support-2021-11-04\/me<\/a><span class=\"s1\"> <span class=\"Apple-converted-space\">\u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>? \u00abPower systems in many, many developing countries are not equipped today to take on that much renewable energy capacity,&#8221; [&hellip;]<\/p>\n","protected":false},"author":135,"featured_media":26997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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