Science is giving us less and less time to get our climate act together while observable weather patterns, whether it is drought in the Western Cape or cyclones in Mozambique, tell us that climate breakdown is already here.
The erratic weather, and a warning from the United Nations’ Intergovernmental Panel on Climate Change in October last year that we have just 12 years to limit a climate change catastrophe, have brought new urgency, with investors increasingly demanding that climate risk is evaluated when investment decisions are made.
The BHP Group, the world’s biggest miner, said this week it won’t add to thermal coal production because it prioritises growth in commodities tied to the shift to renewable energy and electric transport, Bloomberg reported. There’s the prospect that [thermal coal] will be “phased out, potentially sooner than expected”, chief financial officer Peter Beaven told investors on Wednesday. The Australia-based producer has “no appetite for growth in energy coal regardless of asset attractiveness’’, he said.
BHP follows its biggest competitors, Rio Tinto and Glencore, in questioning the future role of coal used for power generation, as investors press for more action to tackle climate change and tighten restrictions on holding companies that produce the fuel, Bloomberg reported.
It's the very thing the industry needs. If Durban floods and what has happened to Mozambique and Zim is anything to go buy taxation is the cheapest for of punishment we need for atonement. As long as we use the Canadian solutions