Terms of reference, assumptions and conditions for the establishmentof an inclusive, accessible, multi-stakeholder platform to assist EU countries and regions to unlock the support available through the EU Just Transition Mechanism and to deliver a truly just transition for their territories.
Categories for Briefing
Spain has experienced a massive decline over the last year and a half, a large majority of coal mines closed by the end of 2018, more than half of installed coal capacity closed at the end of June 2020, and it is expected that the last coal power plant will shut no later than 2025.
We are calling on financial institutions to demand that utilities develop socially responsible plans for phasing out coal by 2030, the latest.
Many national governments have stated their intention to phase-out coal. Currently 15 European countries have announced their intention to exit coal. Three of these, Belgium, Austria and Sweden have now become coal power free. Of the 15 that have announced their intention to exit coal, Germany is the only country that wants to exit after 2030.
ČEZ Czech energy company has broadly outlined its own coal phase-out dates as the trajectory of coal exclusion policies is trending in a positive direction.
The bank UniCredit is one of the last ones in the EU that is still involved in providing loans to many European energy companies that mine or burn coal.
The principles in this briefing are intended to guide financial institutions and to align portfolios with the UN Paris Climate Agreement.
EÜAŞ (Electricity Generation Company) founded in 2001. This briefing summarises the electricty production of EÜAŞ in Turkey.
How financial institutions are phasing-out support to European coal utilities. The key power utilities in Europe that need an urgent transformation.