The Deputy Prime Minister of Australia has highlighted the importance of high quality coal in the energy mix.
Australia exports large amounts of coal to developing economies around Asia, which are in turn using the resource to further their development.
Joyce said: “Australia has some of the highest quality coal in the world. Any reduction in Australian coal exports is most likely to be filled by lower quality coal from other countries, with a net increase in overall global emissions.”
This announcement comes just prior to the annual meeting of the World Bank, where the US intends to use its position to answer calls from the developing world to support the use of fossil fuels for development.
Countries like India have called for an international clean coal alliance. The chief economic advisor to the government of India, Arvind Subramanian recently said: “Coal will remain and should remain. The time is ripe for creating a green and clean coal coalition mirroring the (international) solar alliance. That, rather than unconscionable calls to phase out India’s cheapest source of energy, will serve the cause of climate change and India’s development needs.”