China to stop building coal power plants abroad
China’s pledge to stop building coal-fired power plants overseas could cull $50 billion of investment as it slashes future carbon emissions, analysts said, although Beijing’s own domestic coal program is still propping up the dirty fossil fuel
China’s President Xi Jinping has declared that his country stop building new energy projects abroad that use coal, a move that was immediately welcomed by the United States and the head of the United Nations’ climate change conference.
The announcement at the UN General Assembly could affect 44 coal plants earmarked for Chinese state financing, totalling $50 billion, according to Global Energy Monitor, a U.S. think tank.
That has the potential to reduce future carbon dioxide emissions by 200 million tonnes a year, the think tank told Reuters.
Environmental groups said it would force big coal financiers like the Bank of China, linked with 10 gigawatts of overseas coal power capacity, to draw up a timetable to withdraw from the sector.
Beijing is the largest source of financing for coal power plants globally
Xi’s announcement will have a far-reaching impact on coal power expansion plans in countries like Bangladesh, Indonesia, Vietnam and South Africa.
However, Xi’s carefully worded statement revealed few details and left room for existing projects to continue.
There are already more than 20 Chinese financed coal-fired power units under construction in the world, according to data from the Boston University Global Development Policy Center.
Another 17 are in the planning stage.
The new commitment also doesn’t address China’s plans to expand its own coal-fired power plants.
According to a report published by a European think tank, China’s domestic program accounts for more than half of all the coal-powered plants under construction through the world.
Europe is preparing for winter: how can you keep costs down?
Britain is facing a surge in cold weather, with icy conditions and fog expected for much of this week
The UK Met Office has issued a Yellow warning, which means there could be damage to buildings as Britons brace for cold conditions.
Like much of Europe, the UK are bracing for very strong winds on Wednesday, causing disruption to travel and some utilities.
Drivers are also urged to take extra care on the roads, with warnings in place for icy stretches forming on UK roads.
But some residents who are seeking to heat their homes are on edge, as power prices remain high.
Peter Smith is the director of policy and advocacy at National Energy Action, who said the rising cost of living is impacting Britons.
“The average annual bill has almost doubled since this time last year.”
The organisation seeks to close the gaps when it comes to energy affordability. It predicts 6.7 million UK households will be in fuel poverty in the coming months.
This means millions of Britons will be unable to afford living in a warm, dry and safe home.
“So far the milder than usual weather has protected many from the spiralling bills as they haven’t needed to heat their homes as high or as long as usual,” Mr Smith said.
How to keep warm without blowing your bill
UK Prime Minister Rishi Sunak has urged people to make their own decisions, as he met with world leaders in tropical Bali last week.
“There are things that we can do—all of us—to improve the efficiency with which we use energy, to be careful about it,” he said.
For example, an efficient heater; taking advantage of the sun, where appropriate; and rearranging furniture are some cost-effective methods to reduce the burden on gas and energy bills.
In addition, there are some other cheap ways to reduce dependence on gas and electricity bills, as the temperature continue to plunge.
- close off rooms you’re not using
- lower the temperature of heating
- make sure windows are fully closed
- block cold drafts from under doors using door snakes or carpet.
The UK Government has placed a cap freeze on energy prices.
This means households will pay an average £2,500 on their energy bills. But there is a catch: if households use more, they pay more.
National Energy Action believes an additional 2.2 million homes could be in fuel poverty, when compared to the same time last year.
Why are energy prices so high?
As demand increases, so too does the cost of heating homes.
But there is another factor, which has sent prices rising across Europe: the war in Ukraine.
Russia accounts for 25% of global gas trade, 15% of global thermal coal trade and 10% of global oil trade.
However, countries are struggling to find alternative supplies after sanctioning Moscow for the ongoing conflict.
Germany halted the Nord Stream 2 pipeline, which was expected to double the amount of Russian gas shipped to Europe.
In July, Russia cut the amount of gas pumped through Nord Stream 1 to 20 per cent capacity.
Hoax call between Polish and “French” Presidents
Poland President Andrezj Duda spoke to a hoaxer posing as France counterpart Emmanuel Macron, on the night a missile hit near the Poland-Ukraine border.
The news was confirmed after two Russian pranksters, Vovan and Lexus, posted a recording of the incident, and Duda’s office also affirmed the incident.
During the call, Duda was asking who was responsible for the attack on November 15, wanting to avoid a war with Russia.
The missile landed six kilometres from the border.
Initial reports suggested the missile was Russian-made, but it was later discovered to likely be a Ukrainian air defence missile.
This is the second time the pranksters have targeted the Poland President, who have made their names going after celebrities and politicians, especially those opposed to the Kremlin.
Russian missiles hit NATO territory, killing two
Russian missile hits Poland, as the west assesses the attack on a NATO member
Reports a Russian missile has landed in Poland, killing two people. A projectile struck an area where grain was drying in the village of Przewodów, near the Ukraine border.
An anonymous U.S. intelligence official suggested a barrage of Russian missiles hit the Ukrainian power grid, and spilt into neighbouring Poland.
Poland is a NATO member, therefore, this signifies a potential escalation to the ongoing war. It also marks the first time weapons have impacted a NATO country.
Currently, the Polish government are holding urgent talks. A Polish spokesman Piotr Mueller has confirmed that top leaders are holding an emergency meeting regarding the “crisis situation.”
Under Article 5 of NATO, an attack on one country is considered an attack on all.
The White House has not confirmed the reports but the Pentagon is assessing the situation.
While NATO has taken collective defence measures on several occasions, including in response to the situation in Syria and the Russian invasion of Ukraine—it has only invoked Article 5 once.
For the first time in its history after the 9/11 terrorist attacks against the United States, NATO evoked Article 5 and came to the defence of the United States.
How has the hospitality industry changed since the onset of the coronavirus pandemic?
Can new tech hires be sustained?
Why are restaurants adding service charges amid rising prices?
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
World1 week ago
Is the U.S. debt deal bad fiscal policy?
World1 week ago
AI creates a song imitating Drake and The Weeknd
World1 week ago
Ukraine prepares for a summer of violence
Insight1 week ago
Accelerating cybersecurity skills in the workforce
World1 week ago
Everything you need to know about music NFTs
Business1 week ago
“I think there is a great risk”: will AI steal our jobs?
Business4 days ago
“TikTok represents two national risks to Australians”: should you delete the app?
Business1 week ago
The worst of inflation could be behind us