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Just a day after the International Energy Agency (IEA) released its World Energy Investment Report 2020, the World Coal Association (WCA), the global representative of the coal industry, said that ongoing actions aimed at divesting coal projects did not meet energy targets
.
Despite the call to mobilize investment to support the clean energy transition, the IEA's report highlights the enormous challenges
this initiative is facing due to the COVID-19 pandemic, the WCA said.
"It becomes even more important
that any sound energy and climate policy focuses on all fuels and technologies," the WCA said in a statement.
The current divestment movement will not fulfill these aspirations
.
”
The industry body also said the call for divestment from coal did not recognize growing energy demand, coal's continued role and the importance
of technology in aligning coal use with global efforts to reduce emissions.
According to the WCA, the huge mitigation potential of clean coal technologies nullifies
the central thesis of the "decarbonization movement.
" Although Europe is beginning to phase out coal, major developments in Asia over the next three years mean a net increase of about 40 GW
in global coal power.
Just a day after the International Energy Agency (IEA) released its World Energy Investment Report 2020, the World Coal Association (WCA), the global representative of the coal industry, said that ongoing actions aimed at divesting coal projects did not meet energy targets
.
Despite the call to mobilize investment to support the clean energy transition, the IEA's report highlights the enormous challenges
this initiative is facing due to the COVID-19 pandemic, the WCA said.
"It becomes even more important
that any sound energy and climate policy focuses on all fuels and technologies," the WCA said in a statement.
The current divestment movement will not fulfill these aspirations
.
”
The industry body also said the call for divestment from coal did not recognize growing energy demand, coal's continued role and the importance
of technology in aligning coal use with global efforts to reduce emissions.
According to the WCA, the huge mitigation potential of clean coal technologies nullifies
the central thesis of the "decarbonization movement.
" Although Europe is beginning to phase out coal, major developments in Asia over the next three years mean a net increase of about 40 GW
in global coal power.
