Metallurgical coal is now also coming under attack from climate change fighters
Up to now, it has been only thermal coal that has come under attack from climate change fighters, but now metallurgical coal is also coming under the microscope of a group of ten organisations that established a global thermal coal exit list in 2017. ‘Coal is coal’ is their argument and they are finding that the new metallurgical mine plans and expansion projects are creating a demand surplus.
They argue that in steelmaking, in particular, there are technically viable alternatives to the use of metallurgical coal, which they calculate could, as a result, be phased out in the early 2040s. Targeted particularly is Australia, the biggest exporter of metallurgical coal, and Swiss insurer Zurich is being hailed as the adopter of one of the best metallurgical coal policies in that it excludes new metallurgical coal mines as well as the companies developing them.
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