Eradicating coal: One step forward, two steps back

WORLD leaders will soon meet at COP26 to discuss the critical transition to green energy as part of their targets to reduce carbon emissions responsible for climate change. Meanwhile, nations around the world are facing an unprecedented energy crisis and reaching out to the most vilified of carbon-producing fuels, coal.

The coal market has been enjoying something of a renaissance, ironically at a time when the market has been doubling down on reducing emissions. With thermal coal prices increasing on an hourly basis and power producers scrambling to get the much-maligned carbon-polluting material, a sobering assessment needs to be made on the speed of transition to a green-energy world.

The energy crunch is once again a stark reminder that choices are not binary and in our collective haste to achieve aspirational emission targets, we should be guarded against entrenching ourselves further with carbon.