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It currently has 7.1GW of coal generation in operation across its portfolio
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President Xi Jinping made the announcement during the 76th session of the UN General Assembly via video, pledging to ‘step up support’ for green and low carbon energy projects in developing countries
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The two chimneys and boiler house at SSE’s Ferrybridge coal power station in Yorkshire have been demolished
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Its resolution, which will need the support of 75% of shareholders, includes a commitment to set a clear, science-based strategy with short and medium term targets
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Members of the Alliance commit to taking actions such as setting targets to phase out coal and committing to no further investments in coal power
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That will take the capacity of the power station from 1,995MW to 1,510MW in total
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That was a result of higher energy consumption, which increased at nearly twice the average rate of growth since 2010
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The initiative was launched by the UK and Canada last year, with governments and businesses committing to take action such as setting coal phase-out targets
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It plans to phase out both its proprietary investments in coal-based business and its insurance coverage of such risks by 2040
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