Daily Management Review

Australia to develop coal industry despite UN calls to abandon it


Australia set to keep mining coal despite UN demands to stop using fossil fuels in ten years. The state believes that coal will be a major source of funds and will boost growth of the economy, Reuters reports.

Selwin Hart, adviser to the UN secretary-general on climate issues, urged Australia to give up the fuel and added that the change of climate would affect the country's economy much worse than reducing the mining.

In response, Australia's Natural Resources Minister, Keith Pitt, stated that the future of this essential industry should rest on decisions of the Australian government, not a foreign group whose demands will lead to the loss of jobs and export revenue.

Pitt also believes that the coal sector will continue to prosper after 2030. According to July figures, Australian coal exports increased by 26% to AUD 12.5 billion ($9.3 billion) in three months. As the global economy recovers from the effects of the coronavirus, raw material costs are rising.

In terms of carbon emissions, Australia ranks first in the world. Its government, on the other hand, favors the fossil fuel sector and claims that stringent measures to reduce greenhouse gas emissions will result in job losses.

source: reuters.com