Yes, I think so. It's the prisoner's dilemma. If every single country in the world, including China, Indonesia and India, who are expanding their coal...and to the lady who mentioned that they were increasing renewables, I would submit to you to please look up the actual numbers of new coal-fired power plants that they built in 2023, with 102 gigawatts. That's more than the entire world's coal expansion in one country.
If every single country were to do this at the exact same time, then maybe, I would argue, it would have some benign impact, but we know that's not happening, so as a function of that, capital will simply flow to countries that don't care about the environment.