世界煤炭协会《减少煤炭燃料的碳排放：世界银行的“绿色职能”》报告电子版.pdf

REDUCING EMISSIONS FROM COAL A ROLE FOR THE WORLD BANK3REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKReducing emissions from coal A role for the World Bankcutive SummaryHELE coal-fuelled power plants fitted with modern emission control technologies that are commercially available today; leading to carbon capture use and storage CCUS which requires greater support to accelerate its deployment. The transition away from subcritical technology will require international financial, technological and other kinds of support to accelerate deployment of low emission coal technology. This can be addressed by Multilateral Development Banks MDBs, such as the World Bank, adopting a new approach to coal financing. This approach should – SUPPORT THE SWITCH TO BEST AVAILABLE HELE TECHNOLOGY The construction of the most suitable HELE coal plant with modern emission control technologies where that facilitates delivery of the commitments made by a country under their NDC under the Paris Agreement. Wherever practical, involvement of World Bank or other MDB financing in such projects should facilitate the inclusion of concepts of CCUS-readiness in plant design.HELP DRIVE THE PATHWAY TO ZERO EMISSIONS FROM COALEngage with the relevant national government to support strategies for the development of CCUS technology as part of that country’s long-term climate action plan under the Paris Agreement. Multiple independent forecasts show that coal will continue to play a significant role in the global energy mix for decades to come. This is particularly true in developing and emerging economies in Asia and Africa where coal is essential to enhancing energy security, supporting energy access and powering industrial development. 492 GW of new coal-fuelled power plant capacity is either planned or under construction today, much of it in developing and emerging economies. Given the life of these plants is at least 30 years, it is expected that many of them will be operating well into the 2050s and beyond. Both the Paris Agreement and 2030 Agenda for Sustainable Development are pillars of global action on energy and climate change. Approaches adopted to implement both agreements must integrate environmental imperatives with the aims of universal access to energy, energy security and social and economic development. As demonstrated by the Paris Agreement’s Nationally Determined Contributions NDCs, each nation will choose an energy mix that best meets its needs. For this reason, many countries have identified a continuing role for coal. These countries also identified a need for low emission technologies to help them meet integrated climate and development objectives. With the use of coal projected to continue to grow over the coming decades, a zero emission pathway for coal is essential if global climate objectives are to be met. This begins with high efficiency low emission 124REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKCoal is essential to the development of modern and sustainable societies. Across many economies it plays a major role in bringing affordable, reliable electricity to billions of people. It also plays an important part in the production of steel, cement, glass and many other energy intensive materials which are fundamental for the development of transport, energy, housing and water management infrastructure.Utilities and power producers need to raise project capital at the lowest cost possible in order to build energy infrastructure, such as power plants and grids, and deliver electricity at affordable prices. In less developed economies, however, raising this finance can present significant challenges as local capital markets may not support the type of long-term financing required for energy infrastructure investments. A number of international financial institutions, such as MDBs, have been established to address these challenges and to promote growth in emerging economies. The World Bank Group WBG, the most prominent of the MDBs, has played an important role in distributing risk and mobilising private finance.Coal will play a continuing role in delivering services and infrastructureCoal will continue to be a critical enabler of development and will remain as one of the fuels of choice in rapidly urbanising and industrialising economiesIn 2013, however, the WBG board agreed to a new energy strategy that limits financial support for coal-fuelled power plants to ‘rare and exceptional circumstances’. While MDBs have in the past only provided a relatively small contribution to overall coal-funding, MDB participation can be significant in the viability of a project that may otherwise be too risky for a commercial bank to undertake alone or where WBG participation may provide a level of comfort to other lenders. Given its influence and leadership role, some elements within the wider financial community, particularly European and US commercial banks, have adopted WBG-style policies. The introduction of such measures appears at odds with the role coal-fuelled power is expected to play in many developing and emerging countries. In 2018, according to analysis from third party sources, there was 492 GW of coal capacity under construction or in development globally, complementing the 2 TW in operation1. Coal will continue to be a critical enabler of development and will remain as one of the fuels of choice in rapidly urbanising and industrialising economies. Recognising this role, MDBs, led by the WBG, should adopt a pragmatic and ambitious approach to financing for coal. Such an approach would help accelerate the deployment of low emission coal technologies and address environmental challenges.5REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKThrough its ability to raise capital and support complex projects, the WBG is well-positioned to drive the pathway to zero emissions from coal. Much of the world’s current coal fleet uses subcritical technologies with efficiencies of around 33 with a CO2intensity of up to 1340 kg CO2/MWh. More recently, however, a transition has begun to deploy more efficient HELE designs in coal-fuelled power generation. These modern HELE plants have CO2intensity as low as 740 kg CO2/MWh with units reaching an efficiency of 45 with technological developments expected to achieve further reductions. Deployment of these technologies can be accelerated with the right financial and policy frameworks in place. Increasing the efficiency of coal-fuelled power plants by each percentage point reduces CO2emissions by between 2-32. Given the significant reduction in emissions, key international organisations, such as the International Energy Agency IEA, have encouraged the deployment of low emission coal generation systems3.While the environmental benefits of HELE are well understood, restrictive financing may lead developers to choose lower efficiency and poorer emission rates due to higher upfront construction and material costs. Analysis indicates that the initial capital costs of a subcritical coal plant may be a third less than the more advanced HELE options4. Yet the overall costs over the life of the plant can be lower for HELE technologies due to significantly lower fuel consumption per unit of electricity produced. Financiers can have a significant degree of leverage in the technology and equipment that developers adopt on new projects.For coal-fuelled electricity production, the release of pollutants, such as oxides of sulphur and nitrogen and particulate and trace elements, such as mercury, can be The pathway to zero emissions from coalgreatly reduced through the application of low emissions technologies. For instance, deploying fabric filters and electrostatic precipitators can reduce particulate matter emissions by as much as 99.95. This technology is becoming standard in coal plants in more advanced coal markets, including China and Japan, and should be actively encouraged in other coal-using countries. CCUS INDISPENSABLE TO MEETING CLIMATE TARGETS Improved access to capital would provide incentives to coal generators to invest the higher initial capital outlay of HELE technology and contribute to further decoupling of emissions from economic growth. The benefits of improved emission rates would be significant. Investment by the WBG encouraging developers to adhere to best available technology would therefore lead to improved economic and environmental outcomes than otherwise may have been the case.However, the zero emission pathway for coal – as with all fossil fuels – has to include CCUS in order to meet our climate goals. Given that many countries will continue to rely on fossil fuels for energy generation, CCUS is recognised as indispensable for the world to meet climate targets5. CCUS technologies capture the CO2emissions produced when fossil fuels are used in electricity production and industrial applications, with potential for near-zero-emissions. CCUS processes are technologically proven with 21 large-scale integrated projects in operation or under construction6. Development and deployment of CCUS technologies would be accelerated through financial and policy support from banks and governments. With such financial and policy support, CCUS can be expected to emulate the virtuous cost reduction and deployment circle experienced by wind and solar.Development and deployment of CCUS technologies would be accelerated through financial and policy support from banks and government6REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKTwenty-four countries largely developing and emerging economies representing over half of global emissions have identified a continuing role for coal in their Nationally Determined Contributions NDCs under the Paris Agreement. To integrate environmental imperatives with the aims of universal access to energy, energy security and social and economic development, they pledged to deploy HELE coal-fuelled technology. Ten NDCs also identified a role for near-zero CO2emissions through CCUS. CCUS will be required not only for coal, but also natural gas and industrial sources to ensure global temperature increases are kept well below 2°C. There are also sound economic reasons for promoting CCUS deployment, with analysis indicating that without widespread deployment the cost of achieving the 2°C goal could rise by a median estimate of 1387– an equivalent cost of around 3 of cumulative global GDP for the rest of the century8.Capacity building, technology transfer, and financing were identified in the NDCs as vital to accelerate deployment of all low emission coal technologies. With the necessary WBG support the transition away from subcritical and toward zero emissions from coal could be accelerated. Developing and emerging economies need support for low emissions coal technologyWBG ENERGY POLICY RE HAS LED TO UNINTENDED CONSEQUENCES Despite the environmental and clean air benefits of HELE technologies, analysis indicates that just over a third of capacity being added 183 GW will use the most efficient plant designs. Close to 13 of global capacity under construction or planned will use subcritical technologies. The technology for over 94 GW of coal capacity additions is unknown or yet to be announced, suggesting significant opportunity to influence the type of technology that developers select9. With a wider range of financing options, developers would be more inclined to select the best available technology, resulting in lower CO2emissions and increased scope for CCUS installation.Supporting this view, the decision by the European Bank for Reconstruction and Development – which takes its policy direction from the WBG – to withdraw support from the Stanari power plant in Bosnia may have led developers to compromise the original design plans for HELE plant to a subcritical plant. The decision away from HELE technology led the project to be almost 10 per cent less efficient than originally intended with consequences for the plants emission profile.The technology for over 94 GW of coal capacity additions is unknown or yet to be announced, suggesting significant opportunity to influence the type of technology that developers select 7REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKCCUS will be required for coal, natural gas and industrial sources to ensure global temperature increases are kept well below 2°CThere is little indication to suggest that coal demand has been adversely impacted by changes to WBG policy. On the contrary, there is growing evidence that the WBG position may be creating perverse incentives leading to less efficient coal technologies to be deployed. This has significant implications, including risking the objectives of the Paris Agreement. MDBs could play an important role in encouraging the transition to low emission coal by promoting efficiency, transparency and adherence to internationally accepted standards in HELE plant design. However, since MDBs have adopted policies that preclude coal, a void has been created that has been filled by alternative funding partners. These partners do not consistently apply the same stringent efficiency standards and environmental protections that MDBs, such as the WBG, have historically championed. 8REDUCING EMISSIONS FROM COALA ROLE FOR THE WORLD BANKAlongside its role in promoting sustainable economic growth and poverty reduction, the WBG has an important part to play in climate change mitigation. However, the retreat by the WBG from financing coal has led to an increasing sense that the global climate agenda is being prioritised over the legitimate development aims of poorer countries. Re of the current energy policy would ensure support is made available for the full suite of technologies that countries have identified as important to both their climate mitigation strategies through the NDCs and necessary for their economic development. Addressing the challenge – a new World Bank financing strategy for coalMoves by the WBG to chart a transition away from coal have not led to a reduction in the use of coal globally or dramatically changed planned coal plants. Instead, alternative funding is being sourced and used to build much-needed power stations with less focus on environmental control technology.The WCA calls on the WBG to end its policy of only supporting coal in “exceptional circumstances” and to develop an activist policy that supports a pathway toward cleaner electricity production from coal in the developing economies where it will continue to play an essential role.1A new approach to financing for coal should have two elementsSUPPORT THE SWITCH TO BEST AVAILABLE HELE TECHNOLOGYa priority, regardless of the technology. World Bank involvement in a coal project could provide capital support to compensate for the higher initial capital costs of a HELE plant and facilitate technology transfer and capacity building in those countries where experience in high