As the world prepares for COP30 in Belém , a new global report has raised serious alarms about the continued expansion of coal-based industries, particularly in India and China. The 2025 Global Coal Exit List (GCEL), released by Germany-based NGO Urgewald and 48 partners, reveals a worrying rise in coal-to-chemical projects and captive power plants despite mounting evidence of climate risks and tightening international finance restrictions.