Speaking on the necessity of implementing abated coal solutions for the energy transition, Michelle Manook, Chief Executive Officer of the World Coal Association, which has since been renamed FutureCoal, said that Coal India Ltd. will invest around $54.5 billion in abated coal projects over the next ten years.
The coalition believes that coal is essential for both economic growth and emissions reduction, and it is seeking an all-inclusive global policy framework encompassing all fuels and technologies.
In order to attain equal energy, the association feels that further funding is necessary for the viability of the coal industry. As the government pushes for an increase in the share of renewable energy capacity, the association also projects that by the end of 2040, the percentage of capacity based on coal will be about 20%.
The members also emphasised how many developing and emerging nations have seen their capability and growth diminished, and how this has led to a lower global coal IQ, which is beginning to affect established countries due to the anti-coal sentiment in the market.
The high rise in power generation and industrial uses in Asia was the reason behind the International Energy Agency’s earlier projection of a strong growth in the worldwide demand for coal in the current fiscal year.
