FutureCoal Limited (FutureCoal) has maintained that every nation’s sovereign rights must be respected to support both economic development and climate goals.
FutureCoal’s Chief Executive Officer, Michelle Manook said, “What we are witnessing is an uprise in energy sovereignty. This should come as no surprise. The reality of compromised energy solutions and contingent funding year after year has neither advanced development nor climate goals. The voices of developing and emerging nations are unmuted.”
Manook, invited to give a keynote address to the COP29 China delegation further emphasised that any ‘just’ transition needed to be viewed through the lens of ‘Energy Addition’ not substitution.
“We know that advanced coal technologies can reduce emissions by up to 99% in combustion while driving development. The path forward is not a transition away from coal. It is abating coal emissions through innovation and technology. As a value chain we must embrace and promote the Sustainable Coal Stewardshiproadmap. This gives us the best chance to achieve energy security, affordability and reliability; the pathway to economic prosperity and climate progress.”
FutureCoal also raised concerns about the climate finance pledge of USD 300 billion, which falls short of the USD 1.3 trillion needed for developing nations to meet climate goals.
Manook concluded, “Developing nations need more than promises—they need genuine and unconditional financial support to invest in ALL technologies. Abated coal technologies exists beyond carbon capture and storage and policies must not disqualify these solutions.”
