World Bank must aid countries to manage shift away from coal

The global development lenders like the World Bank and Asian Development Bank (ABD) must provide help countries including India to shift away from coal for energy purpose.
It was proposed by the World Coal Association to finance countries to help them to shift from their to more efficient technologies so that they can meet their COP21 commitments.
Why should global development lenders provide aid?

• Coal is backbone of countries energy mix to meet their energy demands. Even if countries push towards renewable energy they are not going to do away with coal in overall energy mix.
• In absence of any funding countries invest in inefficient sub-critical thermal plants, which have much higher CO2 and particulate matter (PM) emissions. Thus, leading to higher emissions.
• The aid global development lenders will facilitate countries to adopt Super critical and ultra-super critical (USC) plants technologies.

What are benefits of aid from global development lenders?

• Super critical and ultra-super critical (USC) plants technologies have capability to substantially reduce CO2 emissions and virtually eliminate PM emissions.
• It will help countries in reducing their emissions from coal, rather than reducing coal itself and meet target provided in Intended Nationally Determined Contributions (INDCs).
• Thus some target of Paris agreement on Climate Change about reducing the emissions from coal power plants will be achieved.

Month: Current Affairs - October, 2016