According to a study undertaken by the University of Oxford’s Smith School of Enterprise and the Environment, US owns 21% of the polluting plants, EU 10% and India 9%.
The research has analysed 100 largest ‘subcritical company portfolios’ to find the least efficient and most polluting form of coal-fired power stations globally.
Average subcritical coal-fired power plants were found to cause 75% more carbon pollution and use 67% of additional water resources than the up-to-date facilities.
The study indicated the possibility of turning such plants into ‘stranded assets’, since they cause carbon-intensive air pollution and water stress.
Nearly 60% of the polluting coal-fired power stations are state-owned.
The International Energy Agency had imposed limits on global emissions to up to 2°C, which is likely to affect the operation of subcritical coal-fired power plants, resulting in their closure by 2020.
University of Oxford’s Smith School of Enterprise and the Environment, Stranded Assets Programme lead author and director Ben Caldecott said: "There is a strong case for investors to evaluate the risk of companies exposed to the least efficient coal plants, as these assets are at the greatest risk of becoming stranded due to a wide range of environmental and social factors.
"Subcritical plants are typically older and more expensive to operate. Consequently, they may represent a sound choice for closure by budget-constrained policymakers looking for cost-effective ways of tackling pollution."
