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coal

Opinion

Opinion: Insurers need to pull the plug on coal

Coal power plants with a capacity of more than 800 Gigawatt – 10 times the capacity of the whole British electricity system – are currently under construction or in the pipeline. A recent UNEP report has found that none of these plants can be built and existing coal capacity must be retired early if the world is to achieve the climate goals of the Paris Agreement.

Other News

Opinion: Coal’s resilience today will prove its ultimate downfall

Newcastle, the Australian port that's the biggest export harbor for thermal coal, is planning a shift away from the commodity that generates the overwhelming majority of its trade volumes BHP Billiton Ltd., one of the world's largest coal miners, is considering quitting the industry's global trade body and perhaps the U.S. Chamber of Commerce because it can't reconcile its policies on climate change and energy policy with their more coal-friendly stances National Australia Bank Ltd. promised not to lend to new thermal coal projects and ING Groep NV pledged to reduce its exposure to coal generators to close to zero by 2025 China Merchants Bank Co. joined the lengthening line of lenders disavowing advances for Adani Enterprises Ltd.'s Carmichael project, one of the largest such developments worldwide but one that's highly unlikely to go ahead South Korea, one of the world's biggest coal importers, announced plans to phase out coal by 2079 and sharply cut its use by 2030 The International Energy Agency said that coal demand would remain essentially flat until 2022 -- particularly striking given that in recent years it has tended to overestimate coal's prospects