Pity the poor coal industry. Faced with mounting public pressure, critical attention from investors, and the prospect of its product becoming a stranded asset, the World Coal Association is arguing that divestment would actually have unintended consequences. Sporton cites this cautionary note from the International Energy Agency’s recent World Energy Investment Outlook: “If development banks withhold financing for coal-fired power plants, countries that build new capacity will be less inclined to select the most efficient designs because they are more expensive, consequently raising CO2 emissions and reducing the scope for the installation of CCS [carbon capture and storage].” This assumes, of course, that CCS will move beyond its current experimental state, at a price point that can keep up with declining costs for solar, wind, and energy efficiency. (h/t Climate Change Network, LinkedIn)
- Be among the first to read The Energy Mix Weekender
- A brand new weekly digest containing exclusive and essential climate stories from around the world.
- The Weekender:The climate news you need.
