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


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…


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