Energy

China could save $1.6 trillion by moving away from coal: Report

0


China could stand to benefit economically if it can successfully replace coal with renewable energy, according to a report by financial analytics company TransitionZero.

The study looked at the costs, or savings, that the Chinese government would incur if it replaced its existing coal-fired power plants with zero-carbon alternatives.

“What we found is China could save $1.6 trillion by doing that,” said Matthew Gray, co-CEO of TransitionZero, a London-based firm.

“There’s a huge economic incentive for China to get off coal,” he told CNBC’s “Capital Connection” on Thursday.

China has ‘great deal of work’ to do

They’re going to have to shut down those coal-fired power plants by 2040 or shortly…



Source cnbc.com

Gymnast Simone Biles is leaving Nike to work with Gap’s Athleta brand

Previous article

Why a strong start to earnings season isn’t halting the slide for global stocks

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy