As COP23 is underway in Bonn, Germany, Peabody has said it intends to continue to promote today's high-efficiency, low-emissions (HELE) coal-fueled generation technologies and carbon capture use and storage. Peabody views this commitment as essential to meeting the world's goals around low-carbon energy sources.
Peabody Vice President of Coal Generation and Emissions Technologies, Holly Krutka said: "How does society square the interests of a world in which leaders have identified a goal of reducing greenhouse gas emissions, even as global coal demand is strong and scores of new coal-fueled generating plants continue to be built every year?"
"At Peabody, we believe that technologies offer the best common-ground approach with the widest appeal and greatest chance of meeting the world's many energy demands and emission-reduction goals," Krutka continued.
During the past five years, about one new 500 MW coal-fired power plant came online every three days, with many using HELE technology. HELE coal plants result in a smaller environmental footprint, achieving as much as a 25% reduction in a plant's carbon dioxide emissions rate while also achieving overwhelming reduction in conventional emissions.
Peabody also believes that longer-term investments in next-generation carbon capture are needed to transition toward energy from coal that is virtually free of emissions. Studies have shown that the costs of achieving the goals of global climate agreements would more than double without the inclusion of carbon capture, and researchers have stated that excluding carbon capture from the mix increases the median estimated mitigation costs from about 2% of global gross domestic product (GDP) annually to 5% of GDP.
Peabody has invested US$300 million over the past two decades in global partnerships and projects in Australia, China and the US to deploy today's clean coal technologies and advance next-generation solutions toward near-zero emissions from coal plants.
Read the article online at: https://www.worldcoal.com/power/14112017/peabody-promotes-common-ground-approach-to-reduce-emissions/