The Truth Behind Peabody’s Campaign to Rebrand Coal as a Poverty Cure
“The story Linda Jing tells in the video is slick and persuasive: she was a girl from a poor village forced to study by candlelight because there was no electricity until coal-fired power plants arrived, transforming her destiny and that of China. … The message in the Linda Jing video is clear – coal is the solution to poverty in developing nations. It is Peabody’s bold attempt to change the conversation away from climate change, and it has embraced it with gusto on its Advanced Energy for Life website,” writes Suzanne Goldenburg in the Guardian.
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It’s Time for Norway’s Pension Fund to Divest More of Its Coal Holdings
“The global coal industry has become an increasingly risky investment unfit for any investment fund with a fiduciary duty to those it serves … the Norwegian Government Pension Fund Global has made strides over the years in divesting from coal, but our research indicates that the fund’s managers have not gone far enough. Coal holdings are simply too risky to own in this day and age. The industry is arguably the poorest-performing sector in the world and is in a state of deep structural decline simply because coal markets are not what they used to be. Nor will they likely recover,” writes Tom Sanzillo from the Institute for Energy Economics and Financial Analysis.
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Balkan Coal Rush Risks Lasting Damage
“Balkan countries and Ukraine are making ‘substantial investments’ in polluting coal power stations to sell cheap electricity to the European Union (EU), as the bloc searches for new suppliers to reduce its dependence on Russian gas. EU officials appear reluctant to use energy negotiations next month, or trade law, to force higher air pollution and environmental standards, despite the risks the rush poses to EU climate change and enlargement policies, and to finances and public health in the Balkans,” writes James Crisp in EurActiv.
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