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Study: Coal companies pursing “reckless” expansion around planet

October 06, 2022

The Guardian:

Hundreds of coal companies around the world are developing new mines and power stations, according to a study. The researchers said the plans were “reckless and irresponsible” in the midst of the climate emergency.

Coal is the most polluting of all fossil fuels and its use must be quickly phased out to end the climate crisis. However, almost half the 1,000 companies assessed are still developing new coal assets, and just 27 companies have announced coal exit dates consistent with international climate targets.

The new mining projects could increase the production of thermal coal, used in power stations, by more than a third, the report found. The bulk of these projects are in China, India, Australia, Russia and South Africa.

The analysis was produced by the German environmental group Urgewald, which said it was the world’s most comprehensive public database on the coal industry. “Pursuing new coal projects in the midst of a climate emergency is reckless, irresponsible behaviour,” said Heffa Schücking, the director of Urgewald. “Investors, banks and insurers should ban these coal developers from their portfolios immediately.”

[Damian Carrington]

More: ‘Reckless’ coal firms plan climate-busting expansion, study finds

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