Commitment to clean energy by 2030
UK welcomes Hungary to coal power phase-out alliance
The Alliance welcomed ten new members at the summit, including Hungary, Uruguay, the City of Kyoto in Japan, utilities Ontario Power Generation of Canada and National Grid of the UK, as well as investment managers and pension funds from Canada, Denmark, the Netherlands, the UK and the US.
Hungary has announced its commitment to phasing out coal by 2030, showcasing the growing momentum on meeting the 2030 coal phase-out date among the 27 EU Member States.
Hungary was represented at the summit by State Secretary for the Development of Circular Economy, Energy and Climate Policy at the Ministry of Innovation and Technology Attila Steiner, who said: “Hungary joined the Powering Past Coal Alliance because we understand that phasing out coal globally requires strong international cooperation.
“We are ready to share our experiences regarding the implementation of our plans to realise a full transition of our biggest coal region to an economically and environmentally sustainable region by 2030.”
British Ambassador to Hungary Paul Fox welcomed the news, saying: “The United Kingdom congratulates Hungary for its accession to the Powering Past Coal Alliance, and we look forward to working even more closely together on issues such as clean energy and coal phase-out.”
While a transition away from unabated coal power is well under way, according to the International Energy Agency, it is moving too slowly to meet the Paris Agreement goals. Accelerating the shift is crucial to keeping global temperature rise within 1.5°C. It would also help address the global economic crisis and create millions of new jobs in clean energy.
According to the Intergovernmental Panel on Climate Change and in line with the Powering Past Coal Alliance declaration, by 2030 four-fifths of coal electricity generation must be replaced by clean energy globally, and entirely in developed countries. Setting an early date for a just and complete transition from coal to clean energy is the critical first step to reaching the long-term net zero commitments recently adopted by most countries, including top emitters.
The Powering Past Coal Alliance Global Summit is the year’s largest global gathering on coal power phase-out. In addition to the high-level plenary, it consists of a series of thematic sessions on grid transformation, shifting private finance, ensuring just transition, financing early retirement of coal plants, meeting net-zero targets and planning for future power demand. The summit has brought together more than 500 participants representing national and subnational governments, finance and energy sectors, trade unions and civil society.
The alliance was formed by Canada and the UK in 2017 to bring together national and subnational governments and the private sector to accelerate the phase-out of unabated coal power. Since then, the alliance has grown to more than 120 members who are at the forefront of accelerating real-world action on coal power phase-out.