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Business Daily

Does coal have a future?

Feb 3, 2020
Clean energy investor Ramez Naam discusses convincing banks to stop lending to new coal projects. Standard Chartered Bank's Amit Puri explains their decision. Laura Cozzi warns about China's coal plants. Simon Murphy talks about redeveloping Battersea Power Station from coal to sustainable space.
17:29

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Podcast summary created with Snipd AI

Quick takeaways

  • Transition to renewables is economically feasible due to declining costs, making renewables more cost-effective than coal.
  • Financial divestment from coal by banks signals recognition of environmental risks and shifting investment towards renewables.

Deep dives

Transition from Coal to Renewable Energy Sources

The transition from coal to renewable energy sources is becoming more economically viable and necessary. Countries like the US and Europe have significantly reduced coal usage due to the arrival of cheaper natural gas, solar, and wind energy options. The declining cost of renewables, exemplified by the rapid decrease in solar power costs, has made building new solar and wind projects more cost-effective than operating existing coal plants. Forecast models showing constant coal demand are being challenged by the reality of shifting energy trends toward cleaner and more sustainable options like renewables.

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