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Remember when Bank of America promised to stop financing coal mining? They weren't the only ones getting cold feet about this formerly dominant energy source. Now The Guardian is reporting that Deutsche Bank is committing to end financing of new coal mining and new coal-fired power plant construction.
This pledge is being made, says the bank, to back up its commitment to supporting the Paris Climate Deal. But it is also, most likely, a very prudent investment decision. With India phasing out new coal plant construction years earlier than recommended, China reducing its pipeline too, and huge utilities and whole countries alike saying they are pretty much done with coal, it's getting increasingly hard to see where the future for this industry lies.
It seems the age of fossil fuels may be drawing to a close.
(Score: 0) by Anonymous Coward on Saturday February 04 2017, @04:14AM
we get far more of our energy from coal with fewer people employed to do it,
Coal fanboi in da house!
See all those mammoth freighters that make the global economy possible? You don't want to know what makes them go, and no it can't be replaced with batteries either.
Coal?