The world’s coal companies are growing, with 54% of them planning to expand operations, according to a Berlin-based environmental NGO.
The database is the most comprehensive of companies operating along the thermal coal value chain, which represent 89% of the world’s thermal coal production and almost 87% of the world’s installed coal-fired capacity.The latest data suggests that the time for patient engagement with the coal industry has “definitely run out”, said Heffa Schcking, director of Urgewald. “It is high time for banks, insurers, pension funds and other investors to take their money out of the coal industry.
“If built, these projects would add more than 579GW to the global coal-plant fleet, an increase of almost 29%,” the NGO said in a statement. Ungerwald found that more than 200 companies on its “exit list” are still expanding their coal mining activities.
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