Coal is the main source of global warming. Greenhouse gases emitted by burning coal account for more than a third of the 1% rise in global annual mean surface temperature compared to the pre-industrial era.
The Powering Past Coal Alliance (PPCA) is a forum in which central and local governments and asset owners and managers come together. The Alliance’s 165 members have signed a joint declaration, which commits them to decommissioning all coal-fired power plants in European Union and OECD countries by 2030 and in the rest of the word by 2050.
Financial institutions have signed up to a set of principles that commit them to redirecting all coal-related investments to clean energy sources. The Alliance also supports governments in developing ambitious national strategies, especially as regards export finance for coal.
Ten new members joined the PPCA at its 2021 Summit and set up work programmes to prepare for COP26 (especially on the financial sector and just transition).
Cooperation among governments, local and regional authorities and financial institutions make this Alliance a key forum for accountability and action in phasing out the operation and funding of coal-fired power stations. The Alliance also helps financial institutions implement and showcase ambitious divestment campaigns, which are led in accordance with guidelines for a just transition.
In 2019, the PPCA established a set of principles for the financial sector. They represent a comprehensive declaration on how to align coal-related investments and financial services with the objectives of the Paris Agreement.
In July 2019, the Alliance launched its Just Transition Taskforce, co-chaired by the Republic of the Marshall Islands and the Welsh Government. It includes trade union representatives, academics and civil society experts and builds on the growing international scrutiny of coal use.
The working group has 3 goals:
- Share best practices in-between members
- Create an enlarged pool of experts who will induce a worldwide leadership
- Approach countries where the main obstacle is the transition of workers skills and engage with them in applied solutions
In June 2020, the Alliance also launched its Finance Taskforce, whose principles have been signed by 33 financial institutions. In addition to supporting the PPCA Declatation, they commit to take additional measures regarding financial services, investments, reporting and the promotion of the Alliance.
The secretariat, which is jointly provided and funded by the British and Canadian governments, is hosted by E3G research centres and the Pembina Institute.
The list of Alliance members can be found here: PPCA Members | Powering Past Coal Alliance