KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
On Monday, Britain will become the first G7 country to end coal-fired power production, marking a significant milestone in the nation's journey toward climate targets. The closure of Uniper’s Ratcliffe-on-Soar plant in England’s Midlands signals the end of over 140 years of coal power in the UK.
Back in 2015, Britain set a goal to phase out coal plants within a decade, when nearly 30% of its electricity came from coal. By last year, this figure had dropped to just over 1%.
“The UK has proven that it is possible to phase out coal power at unprecedented speed,” said Julia Skorupska, Head of the Powering Past Coal Alliance, which includes around 60 national governments working to eliminate coal power. This phase-out has significantly contributed to the halving of Britain's greenhouse gas emissions since 1990.
Britain aims for net zero emissions by 2050 and plans to decarbonize its electricity sector by 2030, relying heavily on renewable sources such as wind and solar power.
"The era of coal might be ending, but a new age of good energy jobs for our country is just beginning," said energy minister Michael Shanks.
In contrast, coal power still constitutes over 25% of Germany’s electricity and more than 30% of Japan’s power, showing the significant challenge other nations face in reaching the same target. The G7 nations agreed in April to scrap coal power by the mid-2030s, though some countries heavily reliant on coal have been granted more flexibility, drawing criticism from environmental groups.
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