The IEA suggests that 80% of projected global C02 energy emissions to 2020 are already locked-in through the world’s current infrastructure asset base. Infrastructure assets have long operational lifetimes (the estimated average lifetime of a coal-fired power station is 40-60 years). About 60% of power plants in service or under construction today are projected to still be in operation in 2035, which will mean that the majority of power sector emissions in that year are already “locked in”, unless future policy changes force early retirement of existing plants or their retrofitting with carbon capture and storage (CCS).