China, India, Indonesia, Japan and Vietnam are planning to build over 600 new coal power plants. (photo: Kevin Frayer/Getty) 30 June 21 “Renewables offer a cheaper solution that supports global climate targets.” hina, India, Indonesia, Japan and Vietnam are planning to build 80 percent of the world’s new coal plants, according to a new report. Carbon Tracker, a London-based nonprofit think tank researching the effects of climate change on financial markets, released its findings Wednesday. The five Asian countries — including Japan whose prime minister attended the Group of Seven Summit where world leaders discussed meeting climate goals and phasing in sustainable initiatives — are building more than 600 coal power units despite renewable energy being cheaper, The Guardian reported.