Despite global concerns over greenhouse gas emissions and climate change, some Asian countries, among them China and India, are continuing to build new coal power plants at a rapid pace. Globally, over 1,000 new coal-fired power plants have been announced, permitted, or are under construction, with 90 per cent of these located in Asia.
These new power plants alone are expected to emit over 1,400 megatonnes (Mt) of GHGs annually. To put this figure into perspective, Canada must reduce its domestic emissions by approximately 310 Mt to meet its 2030 target.
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Moreover, the average age of existing coal-fired power plants in Asia is only 13 years old, less than half the lifespan of a typical plant (coal-fired plants can operate for 30 to 40 years). It will be difficult to decommission these plants right away as an estimated $1 trillion is already invested in the sector. Investors, many of them politically connected, are not especially keen to see these investments fail. While Asian countries have made “national pledges” to build more renewable energy sources in the future, coal will realistically be used for many years to come.
As inconvenient as they may be, these are the facts at hand. Canada has little to no leverage to influence these countries to nix their existing and planned coal plants. However, we can play a substantial role in reducing the emissions these plants produce — all while helping our own bottom line and expediting progress toward meeting our emissions reduction targets.
Canada, of course, possesses abundant natural gas resources. When used as a fuel source, natural gas emits significantly less carbon than coal. The positive news is that coal-fired power plants can be converted to use natural gas; in fact, many are already being converted. Liquefied natural gas can reduce GHG emissions by 34-62 per cent compared to coal, depending on the application and LNG source. Planned LNG projects for British Columbia are also designed to produce LNG with the lowest levels of carbon emissions, compared to other major LNG sites globally.