Powering Past Coal Alliance

Oil bosses call phasing out fossil fuels a ‘fantasy’ – but an international agreement is plausible

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Tuesday, April 9, 2024
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Such a phase-out requires international cooperation to restrict the supply of fossil fuels, including coal, oil and gas.

Key Points: 
  • Such a phase-out requires international cooperation to restrict the supply of fossil fuels, including coal, oil and gas.
  • If such cooperative efforts are pursued alongside ambitious action to tackle the demand for fossil fuels, it could lead to environmental and economic benefits.
  • Some countries are already taking unilateral action to restrict fossil fuels, by, for instance, banning new oil and gas exploration or extraction.
  • While no international agreement on limiting the supply of fossil fuels yet exists, there are precursors which have tended to take two different forms.

Who’s in? Who’s out?

  • They would be followed by countries that have low reserves and low profits from fossil fuels, such as Argentina, Brazil, India, Japan, Korea, Mexico and Turkey.
  • Our data suggests that petrostates such as Russia and Saudi Arabia would be the most reluctant to join because fossil fuel production is so central to their economies.
  • We acknowledge that our scenarios for international efforts to phase out fossil fuels are not necessarily aligned with geopolitical realities.
  • For one, there is the shaky relationship between key countries such as the US and China to consider.
  • A club of like-minded countries could pave the way for a wider coalition, but major fossil fuel producers would need to join eventually for it to succeed.

Economic consequences

  • Fossil fuel prices will inevitably rise as their supply is squeezed by a phase-out.
  • Only phasing out oil may result in higher economic costs, due to its ubiquity in global supply chains and production processes.
  • International cooperation will be crucial, especially to lessen the economic impact on developing countries that are heavily dependent on imported fossil fuels.
  • Lauri Peterson received funding from the European Union's Horizon 2020 Research and Innovation Programme under grant agreement no.
  • Panagiotis Fragkos received funding from the European Union's Horizon 2020 Research and Innovation Programme under grant agreement no.

Minister Guilbeault reaffirms Canada's commitment to global climate action and continues to push for a strong outcome at COP28

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Tuesday, December 12, 2023
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At COP28, all countries came together to address the triple crisis of climate change, biodiversity loss, and pollution and push for ambitious outcomes.

Key Points: 
  • At COP28, all countries came together to address the triple crisis of climate change, biodiversity loss, and pollution and push for ambitious outcomes.
  • Canada advocated to secure ambitious outcomes to keep the Paris Agreement goal of limiting warming to 1.5 ºC within reach.
  • In addition, Canada is collaborating with partners to ensure that COP28 results in new guidance for countries to make progress on adaptation.
  • Canada is making significant contributions to the global effort to fight climate change to ensure a healthier planet for generations to come."

COP28: Canada Daily Highlights - December 5, 2023

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Tuesday, December 5, 2023
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The Government of Canada signed the Industrial Deep Decarbonisation Initiative and the Green Public Procurement pledge to procure low-emission steel, cement, and concrete in public construction projects.

Key Points: 
  • The Government of Canada signed the Industrial Deep Decarbonisation Initiative and the Green Public Procurement pledge to procure low-emission steel, cement, and concrete in public construction projects.
  • This demonstrates Canada's leadership in creating market demand and helping to drive the global decarbonization of these heavy industries.
  • "When you go to an Indigenous community, there is so much knowledge; they can tell you what the gaps are, what's missing.
  • He welcomed their participation and reiterated Canada's commitment to working with the provinces on shared environmental and economic goals.

Minister Guilbeault leads the Canadian delegation to the UN Climate Change Conference (COP28) to push for ambitious climate action

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Monday, November 27, 2023
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The Honourable Steven Guilbeault, Minister of Environment and Climate Change, is leading the Canadian delegation to the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, from November 30 to December 12, 2023.

Key Points: 
  • The Honourable Steven Guilbeault, Minister of Environment and Climate Change, is leading the Canadian delegation to the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, from November 30 to December 12, 2023.
  • We will work with partners on a new climate finance goal for 2025 and beyond and identify ways to better leverage private capital for climate solutions.
  • Led by Minister Guilbeault, Canada's delegation includes Catherine Stewart, Ambassador for Climate Change; Michael Bonser, Canada's Chief Climate Negotiator; and Jean-François Tremblay, Deputy Minister of Environment and Climate Change.
  • – The Honourable Steven Guilbeault, Minister of Environment and Climate Change
    COP28 is the 28th Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC), an annual conference that coordinates international efforts to address climate change.

Minister Guilbeault takes Canada's climate policy ambition to the United Nations in New York

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Monday, September 18, 2023
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This week, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, will be in New York City from September 18 to 22, 2023, to participate in the United Nations General Assembly's Climate Ambition Summit and a week of high-level engagements.

Key Points: 
  • This week, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, will be in New York City from September 18 to 22, 2023, to participate in the United Nations General Assembly's Climate Ambition Summit and a week of high-level engagements.
  • Throughout the week, Minister Guilbeault will continue to work with partners to achieve real solutions and build momentum heading into COP28.
  • Canada's Ambassador for Climate Change, Catherine Stewart, will also be in New York City this week to attend meetings and events to promote Canada's climate action.
  • The 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change will be held in Dubai, United Arab Emirates, from November 30 to December 12, 2023, under the UAE Presidency.

Ministers Guilbeault and Wilkinson wrap up G7 Ministers' Meeting in Japan focused on climate action, clean energy, and nature protection

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Monday, April 17, 2023
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Reiterated its goal to phase out unabated coal power generation consistent with a 1.5oC compatible future.

Key Points: 
  • Reiterated its goal to phase out unabated coal power generation consistent with a 1.5oC compatible future.
  • In this year's Budget, Canada has committed historic clean-energy investments and tax credits supporting good paying jobs, affordability, and clean growth.
  • – The Honourable Steven Guilbeault, Minister of Environment and Climate Change
    "Canada's G7 partners are also our biggest customers.
  • – The Honourable Jonathan Wilkinson, Minister of Natural Resources
    The G7 brings together Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union.

Canada wraps up its participation at COP27 more committed than ever

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Friday, November 18, 2022
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Canada has engaged, and continues to engage, constructively on loss and damage and is working toward a concrete outcome.

Key Points: 
  • Canada has engaged, and continues to engage, constructively on loss and damage and is working toward a concrete outcome.
  • Canada announced increased cooperation with the United States on reducing oil and gas sector emissionswith a special focus on methane.
  • COP27 marked the fifth anniversary of the Powering Past Coal Alliance, co-launched by Canada and now over 165 members strong.
  • $750 million for FinDev Canada, to bring Canada's development finance institution to the Indo-Pacific region to help support sustainable infrastructure needs.

Canada supports the global transition to clean and secure energy with investments to phase-out coal electricity around the world

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Tuesday, November 15, 2022
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In a year upended by a global energy crisis, Canada is partnering with governments, institutions, and philanthropies to drive the transition to safe, secure, and affordable clean energy.

Key Points: 
  • In a year upended by a global energy crisis, Canada is partnering with governments, institutions, and philanthropies to drive the transition to safe, secure, and affordable clean energy.
  • The Report's release marked five years of progress by the Powering Past Coal Alliance, a global alliance of governments and industry co-led by Canada and the United Kingdom.
  • Clean Energy Finance and Investment Mobilisation helps emerging economies attract private sector investment in clean energy.
  • The Government of Canada is currently developing the Clean Electricity Regulations to guide the country's transition to a net-zero electricity grid.

TransAlta Recognized at COP26 Powering the World Past Coal Event

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Friday, November 5, 2021
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CALGARY, AB, Nov. 5, 2021 /PRNewswire/ - As the world gathers at COP26 to take action on the threat of climate changeand keep the Paris Agreement goal of limiting temperature rise to 1.5C within reach, TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") was pleased to participate at the Powering the World Past Coal event at COP26, in Glasgow, Scotland.

Key Points: 
  • CALGARY, AB, Nov. 5, 2021 /PRNewswire/ - As the world gathers at COP26 to take action on the threat of climate changeand keep the Paris Agreement goal of limiting temperature rise to 1.5C within reach, TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") was pleased to participate at the Powering the World Past Coal event at COP26, in Glasgow, Scotland.
  • At the event, TransAlta and 27 new members joined the Powering Past Coal Alliance (the "Alliance") where the new members were announced by the governments of Canada and the United Kingdom, Co-Chairs of the Alliance.
  • We look forward to continuing our contribution to global efforts to deliver an accelerated clean energy transition."
  • For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live.

Canada and the world move closer to powering past coal with more climate ambition at COP26

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Thursday, November 4, 2021
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Ending coal-fired electricity is one of the single most important steps the world must take in the fight against climate change.

Key Points: 
  • Ending coal-fired electricity is one of the single most important steps the world must take in the fight against climate change.
  • Canada and the United Kingdom, as co-leads of the Powering Past Coal Alliance (PPCA), continue to drive the global momentum towards that end.
  • The Powering Past Coal Alliance is now home to over 30 finance members from all parts of the world, representing US$17 trillion in assets under management.
  • The Powering Past Coal Alliance was co founded by Canada and the UK in 2017 to bring together governments and the private sector to accelerate the phase-out of unabated coal power.