Global coal investments rise despite climate summit commitments

Global investments in coal-related projects are increasing, according to a report by the German organization Urgewald. While 76 projects were canceled or postponed last year, 257 new projects were announced, meaning three new projects are launched for every one canceled.

Data shows that 335 companies plan to construct 606 new coal-fired power plants with a total capacity exceeding 740 GW. This capacity is approximately four times the current coal power fleet in the United States. Additionally, 357 companies intend to open or expand coal mines across 39 countries, with a planned production capacity representing roughly 41% of current global coal production.

China and India are major drivers of this expansion, accounting for nearly 90% of the global coal capacity currently under development. China Energy Investment Group is identified as the largest developer, with 44 GW of planned new capacity, while India’s Coal India aims to add 552 million tons of annual capacity.

Australia holds the third-largest portfolio of planned coal mining projects globally. Meanwhile, Turkey, a co-host of the upcoming COP31 summit, continues to expand its coal sector. In 2025, coal accounted for 34% of Turkey's electricity generation, significantly outpacing wind and solar energy combined, which provided 22%.