Between coal and a hard place: Golden Energy’s intended exit from the dirtiest fossil fuel

SINGAPORE-LISTED energy and resources firm Golden Energy and Resources (Gear) is mulling an exit from the energy coal business, a move that can be viewed as stepping up its environmental practices. How the firm, which owns Indonesia’s largest coal miner Golden Energy Mines (Gems), navigates this crucial intent, however, will be central to its own prospects.

The firm’s plan to cut its exposure to the dirtiest fossil fuel is in line with rising investor aversion to greenhouse pollution and also in sync with big strides by many Asean countries – and energy companies – to pivot towards renewable energy to meet long-term zero emission goals.

Thus far, the moves by Gear, controlled by Indonesia’s Widjaja family, on this front have been somewhat bite-sized.