Position Statement on Energy and Climate Change
Peabody believes that coal is a key contributor to affordable, reliable energy and fossil fuels will continue to play a significant role in the global energy mix. The company also recognizes that these fuels contribute to greenhouse gas emissions, and concern regarding these emissions has become part of the global political, societal and regulatory landscape in which we operate.
Energy is foundational for individuals and economies, and must be abundant, reliable and inexpensive to meet society’s growing demand. Access to such energy is critical to meet basic needs, improve living standards, reduce poverty, enable urbanization and strengthen economies. In addition, access to low-cost energy is correlated with human development indicators such as increased life expectancy, education and economic development.
Within the energy mix, fossil fuels are essential, and satisfy approximately 80 percent of the world’s primary energy demand. Coal plays a fundamental role in generating electricity and is a required component in new steel production.
Our approach to using the world’s coal resources is grounded in the need to achieve the three-part goals of energy security, economic progress and environmental solutions through the application of advanced technologies.
Our approach to using the world’s coal resources is grounded in the need to achieve the three-part goals of energy security, economic progress and environmental solutions through the application of advanced technologies
The world needs to embrace a true “all of the above” energy strategy that recognizes the benefits and limitations for each fuel. Coal’s advantages include a track record of reliability and scalability, affordability and security of supply.
Regarding emissions progress for coal, this begins with deployment of high efficiency, low emissions (HELE) power stations using technology that is available today. Longer-term investments in next generation carbon capture, use and storage (CCUS) technologies are necessary to transition to the ultimate goal of near-zero emissions from coal-fueled power.
HELE and CCUS technologies must be part of the solution to achieve goals of substantial reductions in greenhouse gas emissions. As such, they should be eligible to receive public funding from national and international sources. In addition, CCUS must receive policy parity with all low emission sources of energy and further public investments in research and development are necessary.
Peabody will continue to reduce our carbon footprint and promote the development and deployment of low-carbon technologies by:
Conserving energy and reducing greenhouse gas intensity at our operations whenever possible through energy efficiency and other best practices;
Funding research and key initiatives in low-emissions projects and partnerships such as those already advancing in the United States, Australia and China;
Playing a leadership role in the development of public policies related to energy and the environment;
Engaging with governments, academia, communities and other stakeholders to support constructive and informed dialogue;
Building awareness and support to eliminate energy poverty, increase access to low-cost electricity and improve emissions through advanced clean coal technologies.