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Poland, one of the world’s most coal-dependent countries, is slowly and steadily making progress toward decarbonization. In 2010, 86. 6% of Poland’s energy mix came from coal. By 2021, that figure had dropped to 70. 8%. On the one hand, this is a major improvement that deserves to be recognized. On the other hand, 70. 8% is still very, very high and is a major impediment to the European Union’s decarbonisation targets, to mention global progress towards achieving the targets. established through the Paris Agreement in 2015.
In addition, herbal fuel had been a vital component of Poland’s plans to move away from coal, offering a low-emission springboard from the dirtier fossil fuel to renewable energy. However, now that the European power sector is in crisis and Russia’s Gazprom has threatened to continue restricting export flows to Europe, herbal fuel is no longer an option for Polish markets. Today, the Polish government is running to expand a viable Plan B. “In situations of economic recession and expanding energy poverty, there is a threat that the transition will be slower or even avoided altogether,” a recent report said via Ernst.
However, from a financial point of view, coal is no longer a reasonable option, which leaves the Polish economy between a rock and a hard place. In addition, continued reliance on coal poses major hurdles for Polish corporations seeking investment dollars to transfer to cleaner opportunities. because they still have to buy valuable pollutants in the EU Emissions Trading System for their fossil energy production,” and “financial establishments are increasingly reluctant to corporations with fossil fuels in their portfolio,” according to a EURACTIV report.
While locating the money for the transition to renewables is not simple for Poland, continued reliance on fossil fuels will obviously not solve any problems either. It is slowly adopting a method to decarbonization, taking a bit of a bunch of techniques, ranging from expanding renewables and investing in green hydrogen to locating an investment component to build its first nuclear reactors. All of those techniques, however, are in their infancy and it will take years to take on an abundant component of the country’s energy mix. In the short term, it will be a long and bloodless winter for Poland.
By Haley Zaremba for Oilprice. com
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