Hungary becomes member of Powering Past Coal Alliance
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Hungary became one of the 10 new members of the Powering Past Coal Alliance (PPCA) this month, according to a press release sent to the Budapest Business Journal.
Ministers and key leaders from international organizations, industry and civil society from around the world convened for the first Global Summit of the Powering Past Coal Alliance on March 2 to discuss actions to accelerate the pace of the transition from coal to clean energy ahead of the UN Climate Summit, COP26, in November.
Besides Hungary, the new members of the alliance are Uruguay, the City of Kyoto (Japan), utilities Ontario Power Generation and National Grid (U.K.), as well as investment managers and pension funds from Canada, Denmark, the Netherlands, the United Kingdom and the United States.
Hungary has announced its commitment to phasing out coal by 2030, showcasing the growing momentum on meeting the 2030 coal phase-out date among the EU Member States.
Hungary was represented at the online summit by State Secretary for the Development of Circular Economy, Energy and Climate Policy at the Ministry of Innovation and Technology Attila Steiner, who said, “Hungary joined the PPCA because we understand that phasing out coal globally requires strong international cooperation. We are ready to share our experiences regarding the implementation of our plans to realize a full transition of our biggest coal region to an economically and environmentally sustainable region by 2030.”
“The United Kingdom congratulates Hungary for its accession to the Powering Past Coal Alliance, and we look forward to working even more closely together on issues such as clean energy and coal phase-out”, Paul Fox, British Ambassador to Hungary said, welcoming the announcement.
According to the IPCC and in line with the PPCA declaration, by 2030, four-fifths of coal electricity generation must be replaced by clean energy globally, and entirely in developed countries. Setting an early date for a just and complete transition from coal to clean energy is the critical first step to reaching the long-term net-zero commitments recently adopted by most countries, including top emitters.
The PPCA Global Summit is the year’s largest global gathering on coal power phase-out. In addition to the high-level plenary, it consists of a series of thematic sessions on grid transformation, shifting private finance, ensuring just transition, financing early retirement of coal plants, meeting net-zero targets, and planning for future power demand. The Summit has brought together over 500 participants representing national and subnational governments, finance and energy sectors, trade unions, and civil society.
The alliance was launched in 2017 by the United Kingdom and Canada.
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