Peabody recognizes that climate change is occurring and that human activity, including the use of fossil fuels, contributes to greenhouse gas emissions. We also recognize that coal is essential to affordable, reliable energy and will continue to play a significant role in the global energy mix for the foreseeable future. Peabody views technology as vital to advancing global climate change solutions, and the company supports advanced coal technologies to drive continuous improvement toward the ultimate goal of near-zero emissions from coal.
Energy is foundational for individuals and economies. Access to 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 satisfy approximately 80 percent of the world’s primary energy demand. Thermal coal fuels more of the world’s electricity than any other source and has a track record of reliability, scalability, affordability and security of supply. Thermal coal is also an important source of energy for the global production of cement used in concrete, and metallurgical coal is a required component in new steel production. Together, steel and concrete provide key construction materials for building resilient infrastructure including skyscrapers and communications and transportation systems that support industrialization and urbanization.
Greenhouse gas emissions are produced from a variety of economic sectors—electricity and heat, agriculture, industry, transportation and buildings—as well as from natural sources. The path to a low-carbon future will, in turn, require emissions reductions from all sectors of the economy.
Within the coal sector, both high-efficiency, low-emissions (HELE) technologies and carbon capture, use and storage (CCUS) technologies must be part of the solution to achieve goals of substantial reductions in greenhouse gas emissions. Many countries, including major coal consumers such as China, India and Japan, have HELE technologies as part of their nationally determined contributions to the Paris Agreement. HELE and CCUS technologies should be broadly supported and encouraged, including through eligibility for public funding from national and international sources. In addition, CCUS merits targeted deployment incentives, similar to those provided to other low-emission sources of energy.
Peabody’s continuing actions to address climate change include:
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;
Engaging with governments, academia, communities and other stakeholders to support constructive dialogue and encourage a true “all of the above” energy strategy that recognizes the benefits and limitations of each fuel to meet society’s growing demand;
Building awareness and support to eliminate energy poverty, increase access to low-cost electricity and promote the development and deployment of low-carbon technologies.