World Coal Institute Welcomes Copenhagen as a Step in the Right Direction
19 December 2009
LONDON - The World Coal Institute today welcomed progress made in Copenhagen and the commitment of world leaders to fighting climate change as a step in the right direction.
However, the coal industry also called on governments to be more ambitious on climate change and work quickly to reach a legally binding agreement to replace the Kyoto Protocol as early as possible in 2010.
"While we had hoped for a more binding outcome, we have to accept that the 'Copenhagen Accord' is all that governments are able to accommodate at this time," said Milton Catelin, Chief Executive of the World Coal Institute
"Copenhagen has demonstrated the difficulty in crafting an international agreement on climate change, even with the involvement and commitment of so many world leaders. It is unfortunate that the lack of a firm agreement will continue to create uncertainties for business and their investments over the next decade."
"Tackling climate change requires huge investments in clean energy technologies, such as Carbon Capture and Storage (CCS). Governments need to establish a policy framework that will allow businesses to make these investments as quickly as possible."
The WCI believes that the new international climate change agreement must play a driving role in increasing worldwide investment in CCS. The agreement should enhance the deployment of the full portfolio of low-carbon technologies including: energy efficiency; renewables; CCS; nuclear; and biomass technologies. Without CCS it will be significantly harder and more expensive to stabilise atmospheric concentrations of GHGs - with the potential to cost an addition US$1.28 trillion annually by 2050.
"Copenhagen has been criticised for its lack of progress. The coal industry itself is disappointed by the lack of progress achieved at Copenhagen on including CCS as Clean Development Mechanism project activities. A number of parties continue to strangle progress on this issue and thereby deny developing countries the opportunity to deploy this critical technology, limiting their capacity to contribute to emissions reductions, and undermining the global effort to reduce emissions."
"There is a window of opportunity for countries to push forward the widespread deployment of CCS in developed and developing countries. World leaders have to recognise this and reach a new climate change agreement as early as possible in 2010," said Mr Catelin.
Note to Editors
World Coal Institute
The World Coal Institute (WCI) is a non-profit, non-governmental association of coal enterprises. It is the only international group working worldwide on behalf of the coal industry. The WCI is based in London, with members located worldwide.
For further information, please contact:
Katie Mills, Director - Communications
kmills@worldcoal.org
