Proud to hold stock here.6 Jul 2021 12:58
Personally, I think coal will be with us for a long time to come in both the western world and developing countries. But putting coal to the side for a minute it is worth noting that currently a large population in the developing economies, particularly in Africa, relies heavily on traditional biomass sources of energy that themselves cause problems, such as severe deforestation & carbon pollution. The existing biomass sources are increasing due to population growth, rapid urbanization, poverty and lack of income growth.
These existing and expanding biomasses are as harmful in terms of emissions as coal but they also result in deforestation and land degradation but what is worse it is that it is not reliable and reliability is required as many face 20hr+ power outages or no power at all.
So while coal might not be the most fashionable source it would provide regular, reliable power to communities, hospitals, businesses, schools, etc. which can then be used to enable the people and provide more opportunities for work, education and ways to offset or reduce their own carbon footprint.
Africa takes a life time to achieve anything as we have been witness but they need power now and this power and industrialization will grow off the back of coal and in the future work along side or transition into cleaner alternatives, NCCL recognizes this and is moving in this direction too. But it would not be fair or right and for some Swedish activist's desire of a better world to prevent Africa from developing in the same way that powered her school, her education, and her platform to voice her view.
Energy poor developing economies need coal, which is cheap, readily available and a proven resource to provide electricity for their growing populations. The energy will bring money, investment and the expansion of industry to the country. So whilst I agree that climate change is gaining traction in the western world and the shift might be faster at home in the coming decade(s), in Africa, and other such countries I believe the transition will be far slower.
As lovely as green energy is it would currently face a huge shortfall in the electricity needed to power the ever growing populations of Africa. We are talking about a future green world of Africa but lets let them have the same right we did and provide the power they need to develop, and have reliable consistent energy now.
The gov have promised power to the people and are putting in the infrastructure to achieve this, given the amount of time it took to get to where we are now, the parties involved and the financial backing being offered. NCCL's coal project is highly likely to continue on this path. So I will continue to be proud to support a project that will provide a life changing future to a part of the world that is in desperate need.
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