21 Dec

Whitehaven Coal Paris Agreement

In addition, the company said the scenarios outlined in the International Energy Agency`s global energy outlook show that global demand for coal will continue beyond 2040. The government of New South Wales, Australia, also recently acknowledged that the coal industry would remain an important industry for the state in the coming decades. Market forces say Whitehaven Coal and New Hope are among the ASX 300 most exposed to the transition risks facing the coal export market in a 1.5 degree thermal scenario. Whitehaven is Australia`s largest independent coal miner. Credit:Glenn Campbell International demand for thermal coal would be halved by 2040 in a Paris baseline scenario modelled by the IEA. Van de Pol said the decisions taken at Whitehaven`s general meeting on Thursday were “an opportunity for investors to come forward and say that this is exactly what we expect from companies.” Whitehaven produces some of the highest quality coal available on the marine market. Our semi-sweet coking coal is an important input for steel manufacturing processes and contains few impurities such as ash, sulphur and phosphorus, making it an attractive component of coke blends. Our high CV and low imperishment of thermal coal, like much of the thermal coal produced for export to Australia, is used in modern low-emission (HELE) plants abroad, which are helping to transition to a lower emission future. Any considerable support would be important considering that Whitehaven is a simple coal miner. Woodside refused. Gas operator North West Shelf said it is selecting a number of variables and scenarios, including the International Energy Agency`s “sustainable development scenario” in its review of the resilience of its portfolio, which is in line with the Paris Agreement commitment. On Thursday, Whitehaven warned investors that there were signs of recovery, as the price recovered around 60 $US a tonne and demand for coal would increase if governments put in place economic stimulus plans that require coal consumption for energy and steel production. Coal miner Whitehaven was grilled by climate activists at its annual investor meeting on the resilience of its business to forecast a sharp drop in coal demand by 2030.

“Given the increased risk of coal plants being grounded relative to oil and gas, coal producers should act more urgently than other fossil fuel producers. The purely playable coal miner, which was the first to report its climate risk outlook under globally accepted guidelines, said last year that its future was “robust in the long term,” referring to its commitment to developing Asian countries and expected growth in demand for coal with higher energy values and lower pollution levels.