The burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.
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Nearly half of the coal industry intends to develop new projects to exploit the world’s dirtiest fossil fuel, according to German campaign group Urgewald, with many companies refusing to retire assets even as extreme weather events become worse and more frequent across the globe.
An annual update from Urgewald and 40 partner NGOs published Thursday found that 490 of the 1,064 companies on its Global Coal Exit List were pursuing new coal power plants, coal mines or new coal transport infrastructure.
It means 46% of the companies surveyed are committed to expanding despite last year’s U.N. climate summit in Glasgow ending with a global agreement to “accelerate efforts towards the phasedown of unabated coal.”
The research, which represents the world’s most comprehensive public database on the coal industry, said less than 3% of those surveyed had announced timely coal exit dates.
“Pursuing new coal projects in the midst of a climate emergency is reckless, irresponsible behavior,” said Heffa Schuecking, director of Urgewald. “Investors, banks, and insurers should ban these coal developers from their portfolios immediately.”
Coal is the most carbon-intensive fossil fuel in terms of emissions and therefore the most critical target for replacement in the transition to renewable energy sources.
To be sure, the burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.
At the same time, some European governments have reluctantly turned to coal to help prevent a winter supply shortage amid a dramatic fall in Russian gas flows. Moscow has throttled gas supplies amid a bitter energy stand-off provoked by the Kremlin’s war in Ukraine.
Clear and near coal exit dates
Speaking ahead of the COP27 climate summit in Sharm el-Sheikh next month, U.N. Secretary-General Antonio Guterres warned, “we are in a life-or-death struggle for our own safety today and our survival tomorrow.”
“This is no time for pointing fingers — or twiddling thumbs. It is time for a quantum level compromise between developed and emerging economies,” he added.
The NGOs report said there are currently more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts. It says that whether humanity is able to keep global heating from surpassing the critical temperature threshold of 1.5 degrees Celsius depends “first and foremost on how quickly we phase out this enormous coal plant fleet.”
The 1.5 degrees Celsius goal is the aspirational global temperature limit set in the landmark 2015 Paris Agreement. It is recognized as a crucial global target because beyond this level, so-called tipping points become more likely.
The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems.
Heffa Schuecking
Director of Urgewald
Under the IEA’s roadmap to net zero by 2050, published in May last year, the world’s richest countries must retire their coal power plants by the end of the decade — at the latest — and by 2040 for the rest of the world.
In stark contrast to high-income countries like Italy, France and the U.K., however, the U.S. has not yet set a national phase-out date for its coal power plants.
“While the warnings issued by IPCC and UNEP become more and more dire from one UN Climate Summit to the next, our data regarding companies’ transition plans remains depressingly consistent,” Schuecking said.
“The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems. A real transition requires clear and near coal exit dates.”
Today, there are more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts.
Saeed Khan | Afp | Getty Images
Urgewald’s Schuecking told CNBC that since the 2015 Paris accord was signed, the global coal plant fleet had seen a net increase of roughly 157 gigawatts. That’s the equivalent of Germany, Russia, Japan and Poland’s coal fleet added up together.
The research found that 467 gigawatts of new coal-fired capacity were still in the pipeline worldwide. And, if realized, these projects would increase the world’s current coal power capacity by 23%.
“Stopping investing in or financing coal developers, that should be a no-brainer. I just don’t see how anyone can be serious about the Paris goals or be an institution that takes climate seriously if you’re still involved with coal developers,” Schuecking said.
China’s coal habit
China was found to be responsible for 61% of all planned coal power capacity additions and, perhaps unsurprisingly, the top four coal plant developers were found to be Chinese companies: China Huaneng Group, China Energy Investment Corporation, China Datang Corporation and China Huadian Corporation.
The report found that with 570 million metric tons, China Energy Investment Corporation was the world’s top thermal coal producer last year. This was closely followed by Coal India, which produced 557 million tons of thermal coal in 2021.
Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development, a regional alliance of community organizations and NGOs, said the world welcomed Chinese President Xi Jinping’s announcement last year that Beijing would stop building new coal power plants abroad.
“But China needs to adopt similar measures for its domestic energy system if it wants to become an actor for a 1.5°C world,” Nacpil said.
Coca-Cola’s bottling partners in India are going electric, three wheels at a time. The company just announced a major expansion of its electric delivery fleet, adding thousands of electric three-wheeled vehicles (often called e-rickshaws or electric tuk-tuks) to its logistics operations across the country.
These compact electric vehicles are already a common sight on India’s roads, used for everything from passenger transport to last-mile cargo deliveries. Now Coca-Cola’s bottlers are ramping up their use of these efficient EVs as part of a broader sustainability and welfare initiative dubbed “Vividhta ka Uphaar,” which translates to “a gift of diversity.”
According to the company, the rollout is already underway, with more than 5,000 electric three-wheelers integrated into delivery routes in cities such as Ahmedabad, Bhubaneswar, Bhopal, and more. The vehicles not only reduce tailpipe emissions but also lower noise pollution and operating costs, making them a win for both the company and the communities they serve.
Coca-Cola joins a growing list of multinational corporations turning to electric tuk-tuks to clean up their delivery fleets in Asia. IKEA has deployed similar electric three-wheelers in India and other Southeast Asian countries as part of its push to achieve zero-emissions deliveries. Amazon and Flipkart have also experimented with three-wheeled EVs to reach urban customers on tight, traffic-clogged streets.
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While North America often focuses on four-wheeled electric trucks and vans for commercial use, much of the developing world relies on these nimble three-wheeled workhorses. Affordable, maneuverable, and easy to charge, electric rickshaws are a natural fit for dense cities with hot climates – especially where small businesses and large corporations alike need efficient last-mile solutions.
Electrek’s Take
These types of EVs can’t come soon enough. They use electric drivetrains that are closer in size to an electric bicycle than an electric delivery truck or van (usually 2-4kW motors and 3-5 kWh batteries), yet can carry loads closer in size to those same trucks and vans.
Sure, they can’t carry quite the same tonnage, but they’re often more appropriately sized for the kind of last-mile delivery that so many companies require.
I actually bought an electric tuk-tuk back in 2023 and found it to be the perfect ‘city truck’ for my lifestyle, where I live car-free in a city and my wife and I travel by e-bike and e-motorcycle. For the few times we need to actually haul stuff, an electric tuk-tuk or rickshaw gives truck-like capacity in a smaller and more efficient vehicle. What’s not to like?!
Move over, Bugatti! The new Chinese Yangwang U9 Xtreme electric hypercar just blasted its way to a staggering, 308.4 mph top speed on a German test track, seizing the “world’s fastest car” crown and busting the last traces of the myth that electric cars are slow.
“This record was only possible because the U9 Xtreme simply has incredible performance,” explains German GT racing driver Marc Basseng, who piloted the Chinese EV on its record-setting run. “Technically, something like this is not possible with a combustion engine. Thanks to the electric motor, the car is quiet, there are no load changes, and that allows me to focus even more on the track.”
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The Yangwang U9 features the world’s first mass-produced 1,200V ultra-high-voltage vehicle platform. Developed by BYD, the car is powered by the company’s latest li-ion phosphate batteries in BYD’s now-familiar “blade” configuration.
The U9 Xtreme’s record-setting run dethrones the previous Bugatti Chiron Super Sport 300+, which managed 304.8 mph back in 2019. The Bugatti now has to settle for the lesser “world’s fastest combustion-powered production car” title, which is objectively lame.
Definitely NOT lame
Yangwang U9 Xtreme; via BYD.
The company says it’s selling “no more than 30” of the Xtreme U9 EVs, presumably to customers with incredibly long driveways. The Xtreme version features smaller, 20″ wheels (instead of 21s), and gets wider, 325 mm tires (up from 275 mm) to match the rears. The fronts also ride on a narrower track.
You can watch Marc Messang put the 3,000 hp Yangwang U9 Xtreme electric hypercar to the test in the video, below, then let us know what you think of China’s first-ever world record-setting vehicle in the comments section at the bottom of the page.
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With dual electric motors pumping out 776 hp, over 400 miles of all-electric range, and a relatively low MSRP, the new AUDI E5 Flagship Quattro electric wagon is electrifying the Chinese wagon market – scoring over 10,000 orders in its first thirty minutes on sale!
First launched last fall, the new Audi-backed AUDI sub-brand kept the sexy wagon aesthetic but ditched the Germans’ interlocking rings and Auto Union heritage in favor of a simple, all-caps AUDI logo on the E concept wagon. Now seen in production trim, the production AUDI E5 Sportback is surprisingly true to the original concept – except in the horsepower department, that is.
But, while a production car having lower horsepower figures than the concept car that preceded it is pretty typical, the production AUDI E5 is different: it actually offers more peak power than the 765 hp concept!
That’s right, kids! the range-topping Flagship Quattro version of the new AUDI E5 Sportback offers buyers 776 horsepower (that’s 11 more than the concept), and gets 402 miles (CLTC) of range from its 100 kWh battery. And, while that version is a monster, even the base-level Pioneer version at just 235,900 yuan ($33,000, as I type this) offers a 76 kWh battery pack sending power to a 295 hp rear-mounted electric motor and over 600 km of range (~385 miles).
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It’s a solid achievement in value and tech, and the Audi people seem pretty proud of themselves. “The AUDI E5 Sportback is our first model based on the Advanced Digitized Platform, and it delivers on our brand promise: the best of both worlds,” says Fermín Soneira, CEO of the Audi and SAIC Cooperation Project. “Audi’s DNA and engineering excellence is blended with China’s digital ecosystem and innovations, specifically tailored for our tech-savvy customers.”
And it’s pretty.
AUDI E5 Sportback
The wagon’s exterior, while not necessarily shouting “Audi” in the conventional, Western sense, is still proportioned well enough to carry the four rings (or, looked at another way, a VW logo). But, while it’s a great-looking wagon on the outside, it’s on the inside that the all-new E5 AUDI Sportback really sets itself apart.
The interior of the AUDI E5 Sportback is noticeably different from any Audi model, being much more inline with similar entry-luxe EVs sold in China. The E5 dash also sports a 59″-inch” wide screen that stretches across the entire dash, digital side mirrors, Alcantara seating surfaces, and wireless phone chargers.
All that tech is powered by the QUALCOMM Snapdragon 8295 automotive chipset with 5-nanometer precision and the ability to perform 30 billion operations per second, and the Chinese-market AUDI OS offers what its makers call, “an intuitive experience designed to make the vehicle occupants’ lives easier.”
You can take a look at the new E5 Sportback’s interior, below, then let us know whether or not you think an Audi AUDI like this (and its purple mood lighting) would be a hot seller Stateside in the comments.
E5 Sportback interior
SOURCE | IMAGES: AUDI.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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