“Coal is here to stay for some period of time,” said Ernie Thrasher, CEO at U.S. miner Xcoal Energy & Resources LLC. “It will be two to three decades before there’s a dramatic change in coal’s place in the energy space.”
COP26 President Alok Sharma said his goal at the summit was to “consign coal to history.” While delegates agreed to phase down use of the fuel, the final language of the agreement wasn’t as ardent as many wanted.
The weaker language on coal reflects that the transition toward cleaner energy will require more balance than previously observed, said Paul Flynn, CEO at Australian miner Whitehaven Coal Ltd.
“In the Asian region, coal remains very important,” he said. “Everyone is at different stages of development. The recognition of that complexity is one of the things that came out of Glasgow.”