'The road to Hell is paved with Empty promises' Climate Promises Can't stop Asia's Coal Addiction.

'The road to Hell is paved with Empty promises' Climate Promises Can't stop Asia's Coal Addiction. (Bloomberg).

Asia’s demand for coal is likely to increase for years to come even though countries including China, Japan and India have agreed on steps to limit fossil-fuel pollution damaging the climate.

That’s the conclusion an analysis of Bloomberg New Energy Finance delivered at its conference in Shanghai on Wednesday. The charts below from a presentation by BNEF founder Michael Liebreich show the impact China’s coal consumption will have on the world’s climate goals.

At the same time, clean-energy investment is set to drop.

“Clean energy investment will be down 15 to 20 percent this year,” Liebreich said in an interview in Shanghai. “As things stand, it will not bounce back to a new record in the next five years” because of sluggish economic growth, moves by policymakers to reduce costs and the falling price of wind and solar equipment.

Meanwhile some 'Geniuses' will introduce carbon taxes on their economies killing all future growth. It really takes a special kind of stupid. Read the full story here.