Toshiba Corp. said it will stop taking orders for new coal-fired power plants as it makes a wider push to embrace renewable energy, though will still complete work on about 10 further facilities.
The engineering-to-technology giant will continue to manufacture steam turbines and offer maintenance services for existing coal-power plants, and work on the construction of plants that have already been ordered, spokesman Takashi Ebina said Wednesday.
$69.9B Renewable power investment worldwide in Q2 2020
50,820 Million metric tons of greenhouse emissions, most recent annual data 0 9 8 7 6 5 0 5 4 3 2 1 Soccer pitches of forest lost this hour, most recent data 0 6 5 4 3 2 0 3 2 1 0 9 0 5 4 3 2 1 .0 6 5 4 3 2 0 3 2 1 0 9 0 1 0 9 8 7 0 8 7 6 5 4 0 5 4 3 2 1 0 6 5 4 3 2 Parts per million CO2 in the atmosphere
Delhi, IndiaMost polluted air today, in sensor range -18.08% Today’s arctic ice area vs. historic average
It’s a shift that highlights differences between equipment suppliers as they move to leave behind the coal sector and focus on gas turbines and renewable energy.Samsung C&T Corp. has faced criticism over its intention to complete further coal projects before quitting the fuel, whileGeneral Electric Co. said in September it will pursue anexit from its existing obligations.
The firms are under pressure amid investor demands for action on climate change and over the prospect that tighter government policy on greenhouse gas emissions will limit scope for new coal-fired plants, even in Asia, where nations currently remain reliant on the fuel as a form of cheap electricity generation.
“Given a global trend toward decarbonization, we need to change our stance on the coal-power business,” Ebina said by phone. Toshiba has existing orders for the installation of coal-fired plant facilities in counties including Indonesia and India, according to details listed on itswebsite. The Nikkei first reported the move on Tuesday.
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Toshiba plans to invest 160 billion yen ($1.5 billion) in renewable energy for its operations through the fiscal year ending March 2023, and also aims to halve carbon dioxide emissions by 2030, including so-called Scope 3 pollution, according to Ebina.
The company aims to increase annual sales from its renewable energy business to 650 billion yen by March 2031, compared to about 190 billion yen in the most recent full year. Sales from thermal coal power and hydrogen businesses amounted to 222.5 billion yen in the year ended March 31, representing 6.6% of its total sales.
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