July 7, 2021 Read More →

Banpu announces end to new coal developments, shift to clean energy

Nikkei Asia:

Thailand’s biggest coal producer, Banpu, will no longer start any new coal developments as the company pivots toward green energy, company CEO Somruedee Chaimongkol said in an interview.

“We will only produce from our organic reserve that we have,” said Somruedee. “We have no plan to invest more in the coal mine assets.”

Banpu will instead shift resources toward natural gas and renewable energy. The plan is to have low-carbon green businesses contribute more than half of overall income by 2025.

The shift away from coal comes as the fossil fuel faces a global backlash from industry and investors seeking to cut carbon dioxide emissions. Coal is often cited as one of the world’s worst polluters, with the U.N. saying its transportation, storage and usage accounts for about 40% of greenhouse gas emissions. 

Banpu, which operates mines in Indonesia and Australia, sold 38.8 million tons of coal last year, making it one of the largest producers in Southeast Asia. But the volume is just a fraction of the global leader, Coal India, which provided 600 million tons a year.

[Yohei Muramatsu]

More: Thai miner Banpu ends new coal development in green shift: CEO

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